Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
BML MidTerm 2
Test Description: BML Midterm set 2
Instructions: Answer all questions to get your test result.
1) In a market economy,
A
everything is for sale and on sale.
B
Big Brother loves you.
C
individual people (including businesspeople, entrepreneurs, and consumers) own economic resources.
D
there are little piggies looking for roast beef.
2) In a traditional economy,
A
the economy is mainly focused on meeting people's basic needs.
B
tribal elders vote nonproducers off the island.
C
trade is done as an addition to production.
D
trade with the English is discouraged.
3) Which of these is NOT a name for the US economic system?
A
private enterprise
B
free enterprise
C
capitalism
D
starship Enterprise
4) The rivalry among businesses to sell goods and services is known as
A
competion
B
capitalism
C
cornering the market
D
entrepreneurship
5) Which of the following would likely cause prices to increase?
A
A hardware store in Florida has 250 snow shovels, and summer is approaching.
B
Many people want to purchase a new item that is only produced by one company.
C
Many companies produce a food item that few people like to eat.
D
Explorers discover four hundred gajillion new diamond mines in the middle of the Amazon jungle.
6) Which of these is most likely NOT a competitor for Tom's Tires?
A
Dave's Donut-Shaped Steel-Belted Car Balloons
B
Sam's Soup or Sandwiches
C
Cindy's Circular Objects
D
Randy's Round Rubber Radials
7) Who is a part of the labor force?
A
Janice, who is 15 years old and works part time at a veterinarian's office.
B
Tim, who was fired from his job as a lawyer last week but has put out 5 resumes since then.
C
Joe, who volunteers at a neighborhood charity.
D
Libby, a retired teacher.
8) Goods and services are made, bought and sold across national borders are known as
A
interstate business
B
international trade
C
domestic business
D
exports
9) Domestic business is
A
a business owned by a man and a woman involved in a romantic relationship
B
business that is trained to behave in a certain way.
C
goods and services made, bought and sold within the borders of one country.
D
not an important part of any economic system.
10) About how many countries does the US trade with?
A
380
B
280
C
18
D
180
*select an answer for all questions
Check Results & Get Answers
Play Games with the Questions Above
Teachers: Create FREE classroom games with your questions
Click for more info!
©2007-2024
ReviewGameZone.com
|
About
|
Privacy
|
Contact
|
Terms
|
Site Map
WAIT! Find what you needed?
×
Still Looking for the Answers?
Have Another Question?
Play a Review Game with These Questions?
Want to Make Your Own Test Like This One?