1) A place where suppliers and consumers meet. Depending on the type, goods, services or labor are offered/sold or demanded/purchased. However, the interests of the participants are fundamentally different. a) demand  b) Law of supply and demand: price development  c) Buyer d) market 2) The amount of goods that people want to buy at a given price. a) Law of supply and demand: price development  b) state c) demand  d) Seller 3) The amount of goods available. a) state b) supply c) Buyer d) Seller 4) Make as much profit as possible. a) Seller b) economy c) supply d) Theoretical effects of a competitive market 5) Pay as little as possible. a) Buyer b) supply c) functions of the modern state d) Seller 6) It describes how a price is formed in a market economy. There are two determining factors on such a market, the number of things made available, called supply, and the number of things consumers want, called demand. Supply and demand shows how producers and consumers interact with each other. This relationship will fix the price for a certain type of good. a) state b) market c) Law of supply and demand: price development  d) demand  7) A system in which people earn money and spend it on products and services and in which products and services are provided.   a) economy b) Law of supply and demand: price development  c) supply d) demand  8) Political system/government (in Germany: parliamentary, representative democracy); Specific territory; Specific population a) demand  b) state c) supply d) market 9) legal framework; security freedom rights; provision of essential services a) Theoretical effects of a competitive market b) functions of the modern state c) demand  d) supply 10) better & cheaper products; availability of products at any time; innovating new ideas/products   a) Law of supply and demand: price development  b) Theoretical effects of a competitive market c) functions of the modern state d) Seller

The State and the Economy - Revision

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