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Economics Review
Test Description: Economics Review
Instructions: Answer all questions to get your test result.
1) Anyone that buys or uses something
A
Capitol
B
Monopoly
C
Consumer
D
Law of Diminishing Returns
2) Process of manufacturing from raw materials
A
Production
B
Depreciate
C
Overhead
D
Gross
3) Another word for trading without money
A
Monopoly
B
Barter
C
Consumer
D
Law of Diminishing Returns
4) Owning every aspect of a business
A
Monopoly
B
Gross Domestic Product
C
Twister
D
Export
5) Maximum enjoyment of a product
A
Gross
B
Capitol
C
Gross Domestic Product
D
Maximum Utility
6) Percentage of people that can read or write
A
GDP
B
Literacy Rate
C
Depreciate
D
Consumer
7) People that make up the work force
A
Labor
B
Gross Domestic Product
C
Monopoly
D
Export
8) How much people really need/want something
A
Overhead
B
Demand
C
Law of Diminishing Returns
D
Gross
9) Gradual rise in all prices due to having more money in the system
A
Depreciate
B
Consumer
C
Capitol
D
Inlfation
10) Value of a product goes up after purchase
A
Gross
B
Overhead
C
Law of Diminishing Returns
D
Appreciation
11) Value of a product goes down after purchase
A
Appreciate
B
Import
C
Depreciate
D
Decapitate
12) Crop produced for its economic value (Not just to feed the farmer)
A
Interest
B
Cash Crop
C
Gross
D
Net
13) System of money in general use
A
Import
B
Gross Domestic Product
C
Export
D
Currency
14) The longer you sell something, the less money you make
A
Demand
B
Law of Diminishing Returns
C
Consumer
D
Overhead
15) Develop system of manufacturing
A
Monolpoly
B
Industrialize
C
Export
D
Literacy Rate
16) Material drawn from the Earth
A
Interest
B
Inflation
C
Gross
D
Natural Resources
17) Goods brought into the country
A
Law of Diminishing Returns
B
Exports
C
Imports
D
Gross Domestic Product
18) Goods shipped out of the country
A
Barter
B
Exports
C
Law of Diminishing Returns
D
Imports
19) Taxes on imported products
A
Barter
B
Tarrif
C
Depreciation
D
Economics
20) Total money your country earns on exports
A
Demand
B
Interest
C
Gross Domestic Product
D
Law of Diminishing Returns
*select an answer for all questions
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