2020-06-29
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1. A person that buys or uses goods and services to satisfy his needs and wants
is a ….
A – consumer
B – buyer
C – user
D – economist
2. A person’s role as a consumer depends on his ability ….
A – to earn money
B – to save money
C – to consume
D – to make a decision
3. A person’s ability to consume depends on ….
A - his income
B - his health
C - his accommodation
D – the region he lives
4. The money income a person has after all taxes has been paid is ….
A – discretionary income
B – disposable income
C - earnings
D – net income
5. Disposable and discretionary income are two different measures used to
analyze the amount of ….
A – earnings
B – decision making
C – consumer spending
D - inherited money
6. The amount of income that a household or individual has to invest, save or
spend after taxes and necessities are paid is called ….
A – discretionary income
B – disposable income
C - earnings
D – net income
7. The though process of selecting a logical choice from the available options is
called ….
A – decision making
B – rational choice
C - earnings
D – trade-off
8. … involves choosing the best-quality item that is the least expensive among
comparable quality products.
A – Opportunity cost
B - Decision making
C – Rational choice
D - Scarce resources
9. Individual … forms the basis for nearly all of microeconomic analysis.
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A – decision-making
B – rational choice
C – trade-off
D - consumer spendings
10. … can be spent on entertainment, such as movie tickets.
A – Opportunity cost
B – Disposable income
C – Discretionary income
D – A person’s income
11. The number of years of education you have has a direct effect on your ….
A – income
B – decision-making
C - consumer spending
D - taxes
12. Fill in the gaps in the diagram with: income, discretionary income, disposable
income
13. If prices are higher, then a person's total level of … will be lower, because
consuming will use up a higher percentage of a person's income.
A – decision
B – spending
C – consumption
D - income
Unit 5
