SS 9 Economics Question Preview (ID: 54577)
Outcome 2 Social Studies 9 Alberta Program Of Study.
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A movement from a market economy towards a mixed economy is a
a) shift right
b) shift left
c) shift up
d) shift down
China used to have a(n)
a) market economy
b) mixed economy
c) planned economy
d) economic continuum
Supply of a product involves producers. Demand for a product involves
a) price
b) economy
c) markets
d) consumers
Education, health care, and postal services are funded by the government because
a) they are for the public good
b) they are considered essential
c) they are expensive
d) all of the above
Which of the following is a tactic to put on employers to respond to issues that concern workers?
a) strike
b) lay off
c) closure
d) union
A market economist would view a union as
a) contributing to fair economic decision making
b) holding society hostage and pricing workers out of jobs
c) illegal with no economic decision making
d) necessary to maintain order and good government
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) Recession
b) Collective bargaining
c) Labour union
d) general strike
Which of the following is a founding principle of the U.S.?
a) government involvement
b) individualism
c) environmentalism
d) co-operation
Which of the following is a sum of money given to Canadian artists by the government?
a) grant
b) gift
c) retainer
d) mortgage
Competition and monopoly mean the same thing. They both happen when one producer controls all supply of a product or service.
a) True
b) False
c)
d)
When money for projects is provided both by the private and public sectors, this best describes a…
a) centrally planned economy
b) market economy
c) laissez-faire economy
d) mixed economy
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) an assembly line
b) a monopoly
c) a bureaucracy
d) a diplomacy
Which of the following is not inherent natural in a market economy?
a) competition
b) financial security
c) inequality
d) consumer demand
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) demand
b) supply
c)
d)
Equilibrium price is the price at which the quantity supplied is (greater than / equal to / less than) the quantity demanded.
a) greater than
b) equal
c) less than
d)
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