Economics: Chapter 2 Test Review

Economics: Chapter 2 Test Review

11th - 12th Grade

37 Qs

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Economics: Chapter 2 Test Review

Economics: Chapter 2 Test Review

Assessment

Quiz

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11th - 12th Grade

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Created by

Deda Rush

Used 98+ times

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37 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Consumers in command economies have an unlimited amount of all goods available to them.

True
False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

In a pure market economy, market forces coordinate production as if by an "invisible hand."

True
False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The United States is a mixed economy, but markets play a relatively large role.

True
False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A traditional economy is shaped largely by custom or religion.

True
False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Any movement along the PPF (production possibilities frontier) involves produce less of one good to produce more of the other.

True
False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

An outward shift of the PPF (production possibilities frontier) reflects an economic downturn.

True
False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

In a market economy, what rights give resource owners the freedom to use their resources as they see fit?

monopoly rights
voting rights
property rights
economic rights

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