Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
Unit 14 Review Part 2
Test Description: Unit 14 Economics Review Party 2
Instructions: Answer all questions to get your test result.
1) The Constitution protects and encourages competition in the economy by doing what?
A
all of the above
B
giving inventors patents or copyrights
C
putting taxes on certain popular goods
D
allowing states to print their own money
2) A person who buys goods is called a what?
A
producer
B
consumer
C
supply
D
tariff
3) Which of the following is true about a free market economy?
A
prices change because of supply and demand
B
the government tries to control the economy
C
all of the above
D
prices are set by the government
4) What will happen to the price of oranges if more people want to buy them?
A
the number of oranges will increase
B
the price will increase
C
the price will decrease
D
there will be no changes
5) What is the name of the book written by economics Adam Smith?
A
Buy Smarter
B
Free for All
C
Guide to Buying
D
The Wealth of Nations
6) Which of the following is NOT a service
A
vegetables
B
teacher
C
firefighter
D
bus drivers
7) If something is high in demand and the supply is low, will the price go UP or DOWN?
A
UP
B
DOWN
8) If the demand for an item goes down, will the price go UP or DOWN?
A
UP
B
DOWN
9) The amount of money a person makes in a year is their ______________
A
profit
B
income
C
taxes
D
revenue
10) The cost of living or running a business is what?
A
revenue
B
income
C
expenses
D
taxes
11) True or False: If my expenses are SMALLER than my income, I would go into debt
A
FALSE
B
TRUE
12) TRUE OR FALSE: If my income is BIGGER than my expenses, I am able to save money
A
FALSE
B
TRUE
13) Which Founding Father wanted an economy based on agriculture? (farming)
A
Jefferson
B
Hamilton
14) Which Founding Father did not want to tax American citizens?
A
Hamilton
B
Jefferson
15) Which Founding Father created the first national bank?
A
Jefferson
B
Hamilton
16) What is interest?
A
free money
B
extra money you owe when paying back a loan
C
gifts you get from the bank
17) The total amount of money a business makes is what?
A
income
B
revenue
C
expenses
D
profit
18) The amount of money a business spends to operate is what?
A
revenue
B
expenses
C
income
D
profit
19) The amount of money made by a business after subtracting expenses is what?
A
revenue
B
income
C
profit
D
expenses
20) Which of the following cannot make revenue?
A
a person
B
a business
C
all of the above
D
a tree
*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?