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36. Government Involvement
Test Description: SocialStudiesGames.net
Instructions: Answer all questions to get your test result.
1) What is the main difference between free market and command economies?
A
money
B
banks
C
government involvement
D
opportunity cost
2) Which is NOT an example of government involvement in the economy?
A
FDA and EPA
B
Civil Lawsuits
C
contracts
3) In a mixed economy, _______ courts can be used to settle economic disagreements between two parties.
A
congress
B
criminal courts
C
civil courts
D
kangaroo courts
4) Which is NOT an example of a government agency protecting citizens in the economy.
A
Department of Education requires end of year testing
B
Food and Drug Administration (FDA)tests and makes sure that drugs are safe
C
Environmental Protection Agency (EPA) makes sure that companies do not pollute
D
Food and Drug Administration (FDA) requires nutrition labels on food packaging.
5) Which is NOT an example of a government agency protecting citizens in the economy.
A
FTC makes sure that businesses are fair
B
FCC regulates TV shwos
C
FBI arrests murders
D
EPA regulates business and their interaction with the environment
6) Which is not a result of competition?
A
better quality
B
higher prices
C
lower prices
D
more choice
7) If you run a burger restaurant and new burger restaurant opens up, which would NOT be a good way to compete with them?
A
Lower prices
B
innovate or create new recipes
C
raise prices
D
make better quality burgers
8) How does the government encourage competition?
A
burdensome EPA regulation
B
burdensome FDA regulation
C
zoning restrictions
D
offer new businesses loans
9) Global trade lowers the prices of good by increasing supply. This is good for consumers and bad for producers.
A
True
B
False
10) Global trade lowers the prices of good by increasing supply. This is good for _______ and bad for _____________.
A
consumers, government
B
consumers, producers
C
government, consumers
D
producers, consumers
*select an answer for all questions
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