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36. Government Involvement
Test Description: SocialStudiesGames.net
Instructions: Answer all questions to get your test result.
1) What is the main difference between free market and command economies?
A
opportunity cost
B
government involvement
C
banks
D
money
2) Which is NOT an example of government involvement in the economy?
A
Civil Lawsuits
B
contracts
C
FDA and EPA
3) In a mixed economy, _______ courts can be used to settle economic disagreements between two parties.
A
civil courts
B
criminal courts
C
congress
D
kangaroo courts
4) Which is NOT an example of a government agency protecting citizens in the economy.
A
Food and Drug Administration (FDA) requires nutrition labels on food packaging.
B
Food and Drug Administration (FDA)tests and makes sure that drugs are safe
C
Department of Education requires end of year testing
D
Environmental Protection Agency (EPA) makes sure that companies do not pollute
5) Which is NOT an example of a government agency protecting citizens in the economy.
A
FCC regulates TV shwos
B
EPA regulates business and their interaction with the environment
C
FBI arrests murders
D
FTC makes sure that businesses are fair
6) Which is not a result of competition?
A
more choice
B
higher prices
C
better quality
D
lower prices
7) If you run a burger restaurant and new burger restaurant opens up, which would NOT be a good way to compete with them?
A
innovate or create new recipes
B
raise prices
C
make better quality burgers
D
Lower prices
8) How does the government encourage competition?
A
burdensome FDA regulation
B
zoning restrictions
C
offer new businesses loans
D
burdensome EPA regulation
9) Global trade lowers the prices of good by increasing supply. This is good for consumers and bad for producers.
A
False
B
True
10) Global trade lowers the prices of good by increasing supply. This is good for _______ and bad for _____________.
A
consumers, producers
B
government, consumers
C
producers, consumers
D
consumers, government
*select an answer for all questions
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