Econ Most Missed

Econ Most Missed

Assessment

Flashcard

Social Studies

12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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19 questions

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1.

FLASHCARD QUESTION

Front

In what way does the event of the headline affect the circular flow model?

Media Image

Back

Firms and households would incur higher expenditures.

2.

FLASHCARD QUESTION

Front

Which characteristic of the U.S. free enterprise system creates the incentive to work, save, and invest? Options: Social Security system, Voluntary exchanges, Private property ownership, Consumer sovereignty

Back

Private property ownership

3.

FLASHCARD QUESTION

Front

One result of competition in a free enterprise system is —

Back

lower prices for products

4.

FLASHCARD QUESTION

Front

One of the benefits of the U.S. free enterprise system is the —

Back

amount of choices for consumers

5.

FLASHCARD QUESTION

Front

Which of the following is most characteristic of the U.S. free enterprise system?
Government price controls,
Nationalization of energy companies,
Markets that respond to consumer demand,
Public ownership of the factors of production

Back

Markets that respond to consumer demand

6.

FLASHCARD QUESTION

Front

Based on the information on the table, which economic condition is characteristic of all three nations? Options: Low GDP per capita, High levels of inflation, Low inflationary levels, High levels of unemployment

Back

Low inflationary levels

7.

FLASHCARD QUESTION

Front

An expansionary period in the business cycle is distinguished by —

Back

low unemployment

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