Unit 7 Test
Assessment
•
Amy Rouchon
•
History, Social Studies
•
12th Grade
•
41 plays
•
Hard
Student preview
35 questions
Show answers
1.
Multiple Choice
How do governments raise money to provide services?
by collecting taxes
by holding elections
by posting road signs
by hiring police officers
2.
Multiple Choice
Use the information below to answer the question.
An owner started a new marketing campaign for her outdoor-gear store. This involved improving the store’s website and advertising on television, the radio, and mailing catalogs. As a result, the number of customers increased by 50% over several months.
What was the eventual effect of the advertising on store prices?
a decrease due to greater volume of sales
a decrease due to greater scarcity of goods
an increase due to greater consumer demand
an increase due to greater supplier competition
3.
Multiple Choice
How would this graph MOST likely change if the price of a complementary good were to increase?
The demand curve would shift to the left.
The demand curve would shift to the right.
The supply curve would shift to the left.
The supply curve would shift to the right.
4.
Multiple Choice
Which example BEST describes how the free enterprise system influences technological innovation?
University researchers experiment to increase the number of bushels of corn per acre.
The government offers incentives to discourage the outsourcing of production.
The government regulates communications by assigning radio bandwidth.
Companies compete to develop better cell phones for the market.
5.
Multiple Choice
An owner of a landscaping business received extra income in the previous month. She is considering either buying a new lawnmower or spending the money on an advertising campaign in order to increase business in the next few months.
If the business owner chooses to spend the money on an advertising campaign, what is the opportunity cost?
next month’s income
increased business
the extra income
the lawnmower
6.
Multiple Choice
Use the graph to answer the following question:
What does the point of intersection shown on this graph represent?
elasticity
equilibrium
opportunity cost
marginal production
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