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Unit #9: Economic Decisions (Part 2)
Test Description: CE.11
Instructions: Answer all questions to get your test result.
1) Career planning should begin with -
A
work ethic
B
community service
C
job training
D
self-assessment
2) Employers seek employees who -
A
fail to complete their work
B
demonstrate a strong work ethic
C
don't care about their job
D
are always late
3) If a person, wants to make a higher income, he/she should -
A
have a fundraiser
B
get an education
C
borrow money
D
rob a bank
4) One important influence of new technology in the workplace is the -
A
the creation of new jobs
B
increase of the cost of production
C
decrease of supply and demand
D
the reduction of the flow of capital
5) Banks, savings and loans, and credit unions are -
A
Partnerships
B
Public goods and services
C
Sole proprietorships
D
Private financial institutions
6) Private financial institutions encourage saving and investing by paying -
A
fines
B
taxes
C
tolls
D
interest
7) Private financial institutions make loans available to borrowers by using -
A
deposits of savers
B
tax revenue
C
fines
D
interest
8) In order to be financially responsible, a person should -
A
save and invest for the future
B
use his/her credit card to buy items
C
spend his/her money on whatever he/she wants
D
not spend money on insurance
9) The type of economy a country has is determined by -
A
the amount of government involvment
B
the number of consumers and producers
C
profit motive of its citizens
D
vote of its citizens
10) How does a free market economy determine what will be produced?
A
Customs of the country decides
B
Government decides
C
Consumers decide
D
Lobbyists decide
11) How does a traditional economy determine for whom goods and services are produced?
A
Determined by government
B
Determined by those in need
C
Determined by custom
D
Determined by the highest bidder
12) Government control of property and resources and lack of consumer choice describes which type of economic system?
A
Barter
B
Free market
C
Mixed
D
Command
13) What type of economic system has individuals, businesses, and the government as the economic decision makers?
A
Mixed
B
Command
C
Free market
D
Traditonal
14) The most common economic system today is -
A
command
B
free market
C
mixed
D
traditional
*select an answer for all questions
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