Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
Economics
Test Description: Chapter's 1 2 Information.
Instructions: Answer all questions to get your test result.
1) What are the four factors of production?
A
land, capital, value, entrepreneurship
B
entrepreneurship, land, capital, profit
C
land, capital, labor, entrepreneurship
D
land, capital, analysis, labor
2) Which of the following is NOT a basic economic question?
A
HOW to produce
B
WHAT to produce
C
FOR WHOM to produce
D
WHEN to produce
3) What is the fundamental economic problem?
A
utility
B
capital
C
scarcity
D
value
4) For something to have value, it must
A
cost a lot of money.
B
have utility.
C
be on sale.
D
never go out of style.
5) All of the following are characteristics of a free-enterprise economy EXCEPT
A
economic freedom.
B
voluntary exchange.
C
government control.
D
private property.
6) The government plays all of the following roles in the American economy EXCEPT
A
consumer of products.
B
regulator of business.
C
protector of consumers.
D
central planner deciding what to produce.
7) The American economic system can be described as having a
A
free enterprise system.
B
traditional system.
C
command economy.
D
quota system.
8) An advantage of a market economy is its ability to
A
adjust to changes over time.
B
limit consumer choices.
C
control the price of labor.
D
sell goods at a high price.
9) During period of inflation, people living on a fixed income have
A
declining purchasing power.
B
no financial problems.
C
no voice in the government.
D
unlimited resources.
10) How do consumers exercise their power in the American economy?
A
by deciding what to purchase
B
by saving their money
C
by becoming entrepreneurs
D
by working for businesses
*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!
©2007-2022
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?