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5.0
WISE TEST VA (PART 1) 2025- 2026 QUESTIONS WITH
DETAILED VERIFIED ANSWERS (100% CORRECT
ANSWERS) /ALREADY GRADED A+
Economics
Ans: Is the study of how people decide what they want and what they are
willing to pay in order to get it
Quiz: Scarcity
Ans: Is when people want more of something than is available
Quiz: Personal finance
Ans: Is the way you manage your own money and the things you own
Quiz: Financial planning
Ans: Is making a plan for the future about how to mange your finances
Quiz: Finances
Ans: Are the money you have and the things you own that are worth
money
Quiz: Economy
Ans: System of trade
, Quiz: Trade
Ans: Exchange if things of value
Quiz: Value
Ans: Is what something is worth to people
Quiz: Commodity
Ans: Something of value that can be bought
Quiz: Financial exchange
Ans: Is when commodities are bought or sold using money
Quiz: Good
Ans: An item of value that a person can buy or make to sell
Quiz: Service
Ans: Something of value you can do for another
Quiz: Producer
Ans: Someone who makes a commodity available for sale or exchange
Quiz: Consumer
Ans: Is someone who buys or trades in order to receive the commodity
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