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Economics Quiz

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Economics Quiz Game Economics Quiz 1. What is opportunity cost? The cost of producing goods The value of the next best alternative The total cost of production The cost of raw materials 2. What does GDP stand for? Gross Domestic Product General Domestic Production Gross Development Plan General Demand Principle 3. Which of these is a characteristic of perfect competition? Few sellers Product differentiation Many buyers and sellers High barriers to entry 4. What is inflation? Increase in interest rates Decrease in money supply ...

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