

EOY Review 1
Flashcard
•
Social Studies
•
9th - 12th Grade
•
Practice Problem
•
Hard
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23 questions
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1.
FLASHCARD QUESTION
Front
You own a business building chairs. One day, there is a price drop in the cost of wood. What affect does this have on your business?
Back
There is an increase in chairs, which will cause a decrease in the price of chairs.
2.
FLASHCARD QUESTION
Front
A type of market structure dominated by a few large sellers, like the cell phone industry.
Back
Oligopoly
3.
FLASHCARD QUESTION
Front
Which of these is an example of non-price competition?
Identical products,
A few large sellers,
Sears offers free one-year service plans with the sale of an oven,
The patent for a new product
Back
Sears offers free one-year service plans with the sale of an oven
4.
FLASHCARD QUESTION
Front
There are ___ district banks in the Federal reserve system.
Back
12
5.
FLASHCARD QUESTION
Front
An example of an indirect tax would be...
Back
The sales tax paid on a pizza
6.
FLASHCARD QUESTION
Front
Capital in Economics is defined as . . .
Back
The man-made things used in production.
7.
FLASHCARD QUESTION
Front
The factories pictured above would be categorized as which factor of production?
Back
A Capital Resource
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