Sheffield Economics Review Question Preview (ID: 61644)


Preparation For VA Civics SOL. TEACHERS: click here for quick copy question ID numbers.

Which action will the government take when it needs more money?
a) increase taxes
b) lower prices
c) hold elections
d) hire workers

Which type of of economy is being defined? An economy where people use simple tools for hunting, farmin, and harvesting within a community.
a) Traditional
b) Mixed
c) Free Market
d) Command

Which phrase best completes the ideas lisetd/ These are INCREASING DEGREES OF _______________? Free Market to Mixed Economy to Command Economy
a) Government Regulation
b) Industrrial Productivity
c) Business Profit
d) Consumer Choice

Which incentive best completes the idea that follows? Consumer deposits to Banks and Savings and Loans to Consumer Savings and _____.
a) Interest payments
b) Dividends payments
c) Bonuses
d) Salaries

The Federal Reserve Sysytem is ----
a) the federal government's bank
b) responsible for legislative purchases
c) the federal government's tax collector
d) accountable for legislative actions

Which economic factor has most likely determined the reduction of a price?
a) Demand
b) Scarcity
c) Capital
d) Consumption

Advances in technology have increased the number of people needed to -
a) develop computer software
b) teach children in schools
c) work on assembly lines
d) serve in the military

During the school year, which of the following students would be the best match for this job? JOB: CLERK NEEDED-No experience necessary-Hours M-F 4-7 PM
a) Juanita has good attendance and good work skills
b) Lisa goes to school every day and is often late.
c) Mike studies hard and plays in all afterschool programs.
d) Shawn will graduate early and attend an out of state college.

What is the first step in career planning?
a) Self-assessment
b) Marketing
c) Interviewing
d) Job Search

What term describes a company that is authorized to operate as a legal person?
a) Corportaion
b) Proprietorship
c) Entrepreneur
d) Partnership

When a plastics company cuts costs and gains control of the plastics market, the federal government would seek to _______ .
a) preserve competition
b) conserve resources
c) protect worker's rights
d) safeguard international trade

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