Unit #9: Economic Decisions (Part 2) Question Preview (ID: 24862)


Career planning should begin with -
a) work ethic
b) job training
c) self-assessment
d) community service

Employers seek employees who -
a) fail to complete their work
b) don't care about their job
c) are always late
d) demonstrate a strong work ethic

If a person, wants to make a higher income, he/she should -
a) get an education
b) have a fundraiser
c) rob a bank
d) borrow money

One important influence of new technology in the workplace is the -
a) increase of the cost of production
b) the reduction of the flow of capital
c) decrease of supply and demand
d) the creation of new jobs

Banks, savings and loans, and credit unions are -
a) Sole proprietorships
b) Partnerships
c) Private financial institutions
d) Public goods and services

Private financial institutions encourage saving and investing by paying -
a) interest
b) fines
c) tolls
d) taxes

Private financial institutions make loans available to borrowers by using -
a) tax revenue
b) deposits of savers
c) interest
d) fines

In order to be financially responsible, a person should -
a) use his/her credit card to buy items
b) spend his/her money on whatever he/she wants
c) save and invest for the future
d) not spend money on insurance

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

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

How does a traditional economy determine for whom goods and services are produced?
a) Determined by custom
b) Determined by government
c) Determined by those in need
d) Determined by the highest bidder

Government control of property and resources and lack of consumer choice describes which type of economic system?
a) Barter
b) Command
c) Free market
d) Mixed

What type of economic system has individuals, businesses, and the government as the economic decision makers?
a) Command
b) Free market
c) Mixed
d) Traditonal

The most common economic system today is -
a) command
b) traditional
c) mixed
d) free market

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