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SS 9 Economics
Test Description: Outcome 2 Social Studies 9 Alberta Program of Study
Instructions: Answer all questions to get your test result.
1) A movement from a market economy towards a mixed economy is a
A
shift up
B
shift down
C
shift left
D
shift right
2) China used to have a(n)
A
economic continuum
B
planned economy
C
mixed economy
D
market economy
3) Supply of a product involves producers. Demand for a product involves
A
consumers
B
markets
C
price
D
economy
4) Education, health care, and postal services are funded by the government because
A
they are for the public good
B
all of the above
C
they are considered essential
D
they are expensive
5) Which of the following is a tactic to put on employers to respond to issues that concern workers?
A
closure
B
lay off
C
strike
D
union
6) A market economist would view a union as
A
holding society hostage and pricing workers out of jobs
B
necessary to maintain order and good government
C
illegal with no economic decision making
D
contributing to fair economic decision making
7) Which of the following occurs when workers in different sectors of the economy, in a particular place, organize to stop working at the same time?
A
Collective bargaining
B
Recession
C
Labour union
D
general strike
8) Which of the following is a founding principle of the U.S.?
A
co-operation
B
government involvement
C
environmentalism
D
individualism
9) Which of the following is a sum of money given to Canadian artists by the government?
A
retainer
B
grant
C
gift
D
mortgage
10) Competition and monopoly mean the same thing. They both happen when one producer controls all supply of a product or service.
A
False
B
True
11) When money for projects is provided both by the private and public sectors, this best describes a…
A
centrally planned economy
B
laissez-faire economy
C
market economy
D
mixed economy
12) In a market economy system, when a corporation controls nearly all of one type of product or service, that corporation is said to have
A
a diplomacy
B
an assembly line
C
a bureaucracy
D
a monopoly
13) Which of the following is not inherent natural in a market economy?
A
consumer demand
B
financial security
C
inequality
D
competition
14) The quantity of a good that producers are willing to offer for sale at a given price is the (demand / supply) of that good.
A
supply
B
demand
15) Equilibrium price is the price at which the quantity supplied is (greater than / equal to / less than) the quantity demanded.
A
equal
B
greater than
C
less than
*select an answer for all questions
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