Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
New POB 1.01 - 1.02
Test Description: New POB 1.01 - 1.02
Instructions: Answer all questions to get your test result.
1) Duke Energy Power Company uses water to power the area. Which resource is Duke Energy Power using?
A
service
B
Capital
C
natural
D
human
2) John specializes in leasing commercial buildings to manufacturing companies. In which type of resource does he specialize?
A
human
B
Capital
C
natural
D
service
3) Jewel Manufacturing Company changed its production line to include more workers and decrease production time. Which economic question does this address?
A
When to produce?
B
For whom to produce?
C
How to produce?
D
What to produce?
4) Which is an example of consumers establishing demand?
A
The footwear company moving in its new building
B
The department store changing its staff
C
The purchase of iPhone applications increasing daily
D
The wait to return recalled equipment decreasing daily
5) Which is an example of consumers setting the demand?
A
The footwear company moving in its new building.
B
Consumers bought less of the old version of a video game once the new one was released.
C
The department store changing its staff.
D
The wait for employees returning equipment decreased.
6) Jane’s Steakhouse offers several dishes that may include whole wheat, corn, or beef. Which type of resource is included in the dishes?
A
service
B
natural
C
human
D
capital
7) An example of a value for a market economy is a:
A
local group producing televisions the same way through the years
B
local group believing in following traditions at work.
C
central leadership group expecting all the profit from production.
D
local company choosing to produce gaming software.
8) Tina needs to find employment to earn an income. She applied for positions as a teacher, contractor, and coordinator. Which part of the economic decision-making process has she performed?
A
Identifying choices
B
Evaluating the advantages and disadvantages of each choice
C
Choosing one choice
D
Defining the problem
9) Which is an example of a company establishing supply?
A
Sears Department Store displays fewer lawn mowers.
B
Walmart sends only five touch screen computers to each store
C
Ann Jones Clothing Store upgrades its equipment regularly.
D
Reebok footwear company is trying to attract more middle-aged customers
10) An example of a value for a command economy is:
A
an individual deciding to purchase three new televisions.
B
a local group producing televisions the same way through the years.
C
a local company choosing to produce 10,000 televisions.
D
a central leadership group expecting all the profit from production.
11) Tony is trying to decide on which cars to sell at his dealership. He completed a spreadsheet to compare the options of cars. Which part of economic decision-making process has he performed?
A
Defining the problem
B
Choosing one choice
C
Evaluating the advantages and disadvantages of each choice
D
Acting on a choice
12) Bryers Ice Cream Company plans to increase the quantity of ice cream sold per quarter. This is an example of which self-regulating principle of a market economy?
A
Consumers set demand
B
Supply and demand generated competition
C
Producers establish supply
D
Demand and supply factors influence market prices
13) Brandon’s Towing Company added flat tire replacement services. Which economic question does this address?
A
For whom to produce?
B
when to produce?
C
how to produce?
D
what to produce?
14) Tony organized all the automobiles that he has decided to sell at his dealership. Which part of economic decision-making process has he performed?
A
Acting on a choice
B
Choosing one choice
C
Defining the problem
D
Evaluating the advantages and disadvantages of each choice
15) Department stores report monthly to the state commerce office its total sales of goods and services. This information would be useful for which measurement of economic activities?
A
Borrowing
B
labor activities
C
investment activities
D
consumer spending
16) Mary is proud of saving over $43,000 in a bank. She knows that her saving money at the bank will provide funds for others to borrow money. This information would be useful for which measurement of economic activities?
A
consumer spending
B
labor activities
C
Borrowing
D
investment activities
17) If an economist researches annually the total value of homes built, this information would be useful for which measurement of economic activities?
A
Consumer spending
B
GDP
C
investment activities
D
Labor activities
18) When a government agency reports annually the total amount spent to pay employees, this information is useful for which measurement of economic activities?
A
labor activities
B
consumer spending
C
GDP per capita
D
GDP
19) In a hypothetical economy, only 40 people were included and 15 pizzas were produced last year at $7 dollars each. This information would be useful for which measurement of economic activities?
A
GDP
B
Consumer spending
C
GDP per capita
D
Labor activities
20) A report covering four quarters about the economy includes that more companies are experiencing less production and reducing the number of employees. Which phase of the business cycle does this report describe?
A
prosperity
B
recovery
C
recession
D
Depression
*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?