Unit 4 Economics Review

Unit 4 Economics Review

12th Grade

28 Qs

quiz-placeholder

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Unit 4 Economics Review

Unit 4 Economics Review

Assessment

Quiz

History

12th Grade

Hard

Used 62+ times

FREE Resource

28 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an advantage of sole proprietorship? 
There are almost no requirements
The owner makes all the decisions
The owner keeps all the profits
All of the above statements are true.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A person who wishes to incorporate a business needs to ______ . 
find stockholders
pay the government dividends
file for permission with the government
do all of the above

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Limited life applies to ______ .
Multinationals
Nonprofit Organizations
Sole Proprietorships
Corporations

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best expresses the idea that higher education often results in higher earnings? 
signaling theory
market theory of wage determination
fact-finding
theory of negotiated wages

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which statement is the best explanation of the market theory of wage determination? 
  A worker’s value in the labor market is determined primarily by that worker’s seniority.
Management is more willing to pay a high wage to a worker with advanced education
 worker’s pay rate is set by supply of and demand for that worker’s skills
Management tends to pay a lower wage to workers who support unions.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

One of the primary functions of financial institutions in an economy is to — 
prepare taxes for individuals and businesses
provide access to capital for people and businesses
create investment portfolios for venture capitalists 
offer incentives to people for investing

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A line of credit that allows a borrower to repeatedly use it within a certain monetary amount is considered to be —      
close-ended credit
retirement account
a secured loan
open-ended credit

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