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Chapter 2. Lesson 2

The document is a vocabulary quiz focused on economic terms and concepts. It includes definitions and fill-in-the-blank questions related to economic performance, production, and market dynamics. Key terms include recession, GDP, supply, demand, and quality control.

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Thùy Trâm
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3 views1 page

Chapter 2. Lesson 2

The document is a vocabulary quiz focused on economic terms and concepts. It includes definitions and fill-in-the-blank questions related to economic performance, production, and market dynamics. Key terms include recession, GDP, supply, demand, and quality control.

Uploaded by

Thùy Trâm
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

CHAPTER 2.

VOCABULARY QUIZ
Recession Economic downturn Mass-produce Demand
GDP Economic expansion Price tag Supply
Depression Boom Order backlog Quality control
Bubble Production cycle Economic recovery Stagnation

1. The statistic that is used to measure how well an economy is performing, is called
__________.
2. When the size of an economy is growing, it is called a period of __________.
3. When an economy decreases in size for 6 months of more, it is called a ___________.
4. The amount of a product or service that is available to buy, is called the ___________.
5. When the size of an economy starts to decrease in size, it is called an ___________.
6. When an economy has a long period of very low economic growth, it is called a period
of __________.
7. When the value of a type of product increases dramatically and it becomes very
overvalued, it is called a __________.
8. When the size of an economy starts to grow again after a period when it has been
decreasing in size (e.g. a recession), it is called a period of __________.
9. When an economy decreases in size for 2 years of more, it is called a __________.
10. The amount of people or consumers who want to buy a product or service, is called the
__________.
11. When an economy has a long period of good economic expansion, it is called a
__________.
12. To __________ is to produce a lot of goods cheaply using machines in a factory.
13. Unfortunately, we have an ___________ for two months. We could deliver the items
in January.
14. We need to change the ___________ on that item as we've raised prices.
15. We make sure to implement stringent ___________ on each product.
16. Our ________________ takes about three months to complete.

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