2.03 - 2.05 Modified Test Business Environment

2.03 - 2.05 Modified Test Business Environment

Assessment

Flashcard

Business

9th - 12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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47 questions

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1.

FLASHCARD QUESTION

Front

Which of the following types of economic systems adopts the fewest new ideas or improvements?
Options: Command, Socialist Command, Traditional

Back

Traditional

2.

FLASHCARD QUESTION

Front

One way that competition helps build a prosperous society is by

Back

creating new jobs

3.

FLASHCARD QUESTION

Front

Which of the following is a direct benefit to consumers of the effects of competition: higher product prices, wider product selection, fewer new businesses in the market?

Back

wider product selection

4.

FLASHCARD QUESTION

Front

Which of the following are qualities of monopolies: high prices and low production, low production and much competition, low prices and little competition?

Back

high prices and low production

5.

FLASHCARD QUESTION

Front

Offering high quality, large assortments, and free shipping are examples of

Back

non price competition

6.

FLASHCARD QUESTION

Front

What type of market structure is most commonly found in a private enterprise economy?

Back

monopolistic competition

7.

FLASHCARD QUESTION

Front

Most businesses put their greatest competitive efforts into competing

Back

with direct competitors

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