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- 1. Multiple Choice
Individuals (households) own resources used in production, sell resources for _____, and use the ______ to purchase products.
Income
Taxes
Interest
opportunity cost
- 2. Multiple Choice
________ uses tax revenue from individuals and businesses to provide public goods and services.
Individuals
Government
Businesses
Private Financial Institutions
- 3. Multiple Choice
Private Financial Institutions include all of the following Except?
Banks, Savings and Loans, And Credit Unions
Receive Deposits and Make Loans
Discourage saving and investing by paying interest on deposits
Encourage saving and investing by paying interest on deposits
- 4. Multiple Choice
Reasons why States and Nations Trade include all of the following EXCEPT
To obtain goods and services they cannot produce efficiently themselves
To buy goods and services at a Higher cost
To sell goods or services to other countries
To create Jobs
- 5. Multiple Choice
What contributes to the global flow of information, capital, goods, and services, AND lowers the cost of production?
Taxes
Technology
Interest
Income
- 6. Multiple Choice
Government promotes and regulates marketplace competition by all of the following EXCEPT
Enforcing Antitrust legislation to Discourage Monopolies
Engaging in Global Trade
Supporting Business Start-ups
Eliminating Competition
- 7. Multiple Choice
Which of the Following is NOT a Government Agency that regulates business?
Federal Communications Commission(FCC)
Environmental Protection Agency
(EPA)
Federal Trade Commission (FTC)
Federal Emergency Management Agency (FEMA)
- 8. Multiple Choice
Ways Government pays for public goods and services (Highways, Bridges, Parks, Schools, Postal Services, Libraries, Fire and Rescue, Police, and National Defense) include all of the following EXCEPT
Tax Revenue
Fees
Borrowed Funds
Monopoly Money
- 9. Multiple Choice
Which Amendment allows Congress to tax personal and business incomes?
1st
5th
14th
16th
- 10. Multiple Choice
What is known as the Bankers Bank and the Central Bank of the U.S.?
Federal Reserve
(FED)
Bank of America
United States Central Bank
United States Bankers Bank
- 11. Multiple Choice
Why does the U.S. pass laws and create agencies?
To Protect consumer rights and property rights
To raise money
To weaken the national defense
To help promote monopolies
- 12. Multiple Choice
What type of business ownership has 2 or more owners who share the risk and share the profit?
Proprietorship
Partnership
Corporation
Public
- 13. Multiple Choice
what type of business organization has 1 owner who takes all of the risks and keeps all of the profits?
Partnership
Proprietorship
Corporation
Private Stock
- 14. Multiple Choice
What type of Business organization has many owners and the liability to limited to investment?
Corporation
Proprietorship
Partnership
Lemonade Stand
- 15. Multiple Choice
What type of economy does the U.S. have?
Free Market
Traditional
Command
Mixed
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