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5.02 Economic Systems and their effects on Business

Authored by Fran Clark

Business

9th - 12th Grade

Used 227+ times

5.02 Economic Systems and their effects on Business
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15 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Countries whose governments provide citizens with free medical care, education, and other benefits often are referred to as which type of state?

Military
Capitalist
Consumer
Welfare

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which is an example of a speculative business risk?

A special promotion fails to increase sales.
A supplier's shipment is lost in transit.
A cashier gives unauthorized discounts to friends.
A customer is injured at a business and sues the company.

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which is a problem associated with communist command economies?

There is no competition.
There are high taxes.
Supply and demand control what will be produced.
Individuals run the risk of losing their businesses.

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

In a private enterprise economic system, the interaction of supply and demand primarily determines:

Government regulation
Economic choices
The extent of pollution
Product prices

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A vendor is extending credit to the Jones Company in return for the Jones Company's agreement to use the vendor as the sole source of its supplies. What federal act is the vendor and the Jones Company violating?

Celler-Kefauver Act
Clayton Act
Sherman Act
Robinson-Patman Act

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The basic role of the United States government is to:

Limit business startups
Maintain control of prices
Increase production
Protect U.S. citizens

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

In business terms, what is profit?

A risky venture
A good investment
A holiday bonus
A monetary reward

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