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Survivor Quiz 12 Questions
Test Description: Review
Instructions: Answer all questions to get your test result.
1) One important reason VA and the US trade with other nations is to
A
to control worldwide trade
B
buy things we cannot produce
C
to decrease jobs
D
sell goods outlawed by the US
2) Businesses in VA specialize in producing certain goods in order to
A
reduce tariffs
B
control inflation
C
gain a monopoly in international markets
D
promote efficiency and growth
3) The term Global Economy can BEST be described as the
A
worldwide buying and selling goods
B
meeting a study rising interest rates
C
buying goods and services within a country
D
international interest rates
4) One important influence of new technology in the workplace is the
A
decrease of supply and demand
B
increase in the cost of production
C
creation of new jobs
D
reduction of the flow of capital
5) What lowers the cost of production?
A
new technology
B
charging consumers more money
C
purchasing more expensive parts
D
using outdated and old machinery
6) Which technology has contributed to the global flow of capital, goods, services, and information?
A
telephone
B
radio
C
magazines
D
internet
7) All the ways the government promotes competition EXCEPT
A
passing and enforcing anti-trust laws
B
participating in global trade
C
limiting loans to small businesses
D
encouraging businesses to start up
8) Why does the US enforce anti-trust laws?
A
to provide public goods
B
to prevent monopolies
C
to increase taxes
D
to stop competition
9) A DJ cusses on live radio. Which government agency will most likely levy a fine?
A
EPA
B
FCC
C
FTC
D
FDIC
10) Which government agency tries to prevent pollution?
A
FTC
B
FCC
C
OSHA
D
EPA
11) Which government agency would issue a consumer alert for an unsafe product?
A
FTC
B
FED
C
FCC
D
EPA
12) Government produces goods and services because-
A
people alone could not produce them
B
US businesses won't produce them
C
the Constitution requires it
D
for the fun of it
*select an answer for all questions
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