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Matching Post Quiz
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Match the correct answers below.
1


A mechanism through which buyers and sellers interact to set prices and exchange goods and services.

2


Determine society's point on the production-possibility frontier (PPF).

3


Coordinate the decisions of producers and consumers in the market.

4


Government should leave economic affairs primarily to the market.

5


The result of specialization and trade.

6


Provide incentives and disincentives to firms for them to produce the desired goods in an efficient manner.

7


An economic system in which markets are the governing force in day-to-day economic life while government regulates social conditions and provides health care and social programs.

8


Recent growth in the flows of goods and services across national borders.

9


Introduced the concept of the invisible hand.

10


The buildings, machinery, and other equipment used in production.

11


Goods for which the cost of extending the service to another person is zero and which it is impossible to exclude individuals from enjoying.

12


A market structure in which no firm is large enough to affect the market price.

13


The primary factors of production.

14


Costs or benefits imposed by market players on those outside the market.

15


Aimed at macroeconomic stabilization.

Answer choices for questions 1 through 15
A)Capital
B)Profits and losses
C)Market
D)Gains from trade
E)Land, labor, and capital
F)Externalities
G)Tastes and technology
H)Welfare state
I)Globalization
J)Adam Smith
K)Prices
L)Perfect competition
M)Public goods
N)Monetary policy
O)Laissez-faire





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