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Economics Review
Test Description: Economics Review
Instructions: Answer all questions to get your test result.
1) Anyone that buys or uses something
A
Law of Diminishing Returns
B
Monopoly
C
Capitol
D
Consumer
2) Process of manufacturing from raw materials
A
Gross
B
Overhead
C
Depreciate
D
Production
3) Another word for trading without money
A
Law of Diminishing Returns
B
Consumer
C
Monopoly
D
Barter
4) Owning every aspect of a business
A
Gross Domestic Product
B
Monopoly
C
Twister
D
Export
5) Maximum enjoyment of a product
A
Maximum Utility
B
Capitol
C
Gross
D
Gross Domestic Product
6) Percentage of people that can read or write
A
Consumer
B
Literacy Rate
C
GDP
D
Depreciate
7) People that make up the work force
A
Monopoly
B
Labor
C
Gross Domestic Product
D
Export
8) How much people really need/want something
A
Law of Diminishing Returns
B
Overhead
C
Gross
D
Demand
9) Gradual rise in all prices due to having more money in the system
A
Consumer
B
Depreciate
C
Inlfation
D
Capitol
10) Value of a product goes up after purchase
A
Appreciation
B
Overhead
C
Gross
D
Law of Diminishing Returns
11) Value of a product goes down after purchase
A
Decapitate
B
Depreciate
C
Appreciate
D
Import
12) Crop produced for its economic value (Not just to feed the farmer)
A
Gross
B
Interest
C
Cash Crop
D
Net
13) System of money in general use
A
Currency
B
Import
C
Export
D
Gross Domestic Product
14) The longer you sell something, the less money you make
A
Law of Diminishing Returns
B
Demand
C
Consumer
D
Overhead
15) Develop system of manufacturing
A
Industrialize
B
Export
C
Monolpoly
D
Literacy Rate
16) Material drawn from the Earth
A
Interest
B
Natural Resources
C
Gross
D
Inflation
17) Goods brought into the country
A
Exports
B
Imports
C
Law of Diminishing Returns
D
Gross Domestic Product
18) Goods shipped out of the country
A
Law of Diminishing Returns
B
Exports
C
Barter
D
Imports
19) Taxes on imported products
A
Depreciation
B
Barter
C
Economics
D
Tarrif
20) Total money your country earns on exports
A
Interest
B
Demand
C
Gross Domestic Product
D
Law of Diminishing Returns
*select an answer for all questions
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