Economics
a year ago
landhuis
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14 QuestionsShow answers
  • Question 1
    30 seconds
    Q.

    In what economic systems do private citizens determine what to produce, how to produce it, and how to market it?

    answer choices

    Traditional Economy

    Market Economy

    Command Economy

    Mixed Economy

  • Question 2
    30 seconds
    Q.

    In what economic system does the government determine what to produce, how to produce it, and how to market it?

    answer choices

    Traditional Economy

    Market Economy

    Command Economy

    Mixed Economy

  • Question 3
    30 seconds
    Q.

    What is the total amount of payment received from a consumer for a good or service?

    answer choices

    Costs

    Profits

    Deductions

    Revenue

  • Question 4
    30 seconds
    Q.

    What is the general increase in prices over time?

    answer choices

    Inflation

    Deflation

    Stagflation

    Hyperinflation

  • Question 5
    30 seconds
    Q.

    What do you call the tools and equipment needed to create a good or service?

    answer choices

    Capital Resources

    Human Resources

    Land Resources

    Entrepreneurial Ability

  • Question 6
    30 seconds
    Q.

    What is the total amount of a good or service available for purchase?

    answer choices

    Producer

    Consumer

    Demand

    Supply

  • Question 7
    30 seconds
    Q.

    What do you call someone who makes or provides a good or service for purchase?

    answer choices

    Producer

    Consumer

    Demand

    Supply

  • Question 8
    30 seconds
    Q.

    What is a good which is produced domestically but sold in a foreign country?

    answer choices

    Import

    Export

    Gross Domestic Product

    Human Development Index

  • Question 9
    30 seconds
    Q.

    What is the calculation of the value in USD of all the goods and services

    answer choices

    Import

    Export

    Gross Domestic Product

    Human Development Index

  • Question 10
    30 seconds
    Q.

    What do you call a country with a strong economy and easy access to education, healthcare, and vital goods and services?

    answer choices

    Least Developed Country

    Less Developed Country

    More Developed Country

    Third World County

  • Question 11
    30 seconds
    Q.

    The majority of the least developed countries can be found on which continent?

    answer choices

    Africa

    Asia

    Europe

    South America

  • Question 12
    30 seconds
    Q.

    Which of the following are benefits of NAFTA? (Choose all that apply)

    answer choices

    Increased Trade

    Improved the US Economy

    Decreased the Negative Environmental Impact of many companies

    Decreased the cost of imports

    Companies moved to other countries to produce goods

  • Question 13
    30 seconds
    Q.

    Which of the following are ways that countries attempt to limit trade? (choose all that apply)

    answer choices

    Tariffs

    Deficit

    Quotas

    Investment

    Embargo

  • Question 14
    30 seconds
    Q.

    Why did Europeans "claim" colonies in the 1800s? (choose all that apply)

    answer choices

    To gain access to new technologies

    To obtain more raw materials

    To have new markets for selling goods

    To learn about new cultures and traditions

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