Economics SOL Review

What type of economy is being defined :

An economy in which communities use simple tools and methods to harvest and hunt for food often results in little economic growth.

• Command

• Free Market

• Mixed

• Traditional

Advances in technology have increased the number of people needed to -

• develop computer software

• teach children in school

• work on assembly lines

• serve in the military

CLERK NEEDED

No Experience Necessary

Hours Mon. - Fri 4pm - 7pm

During the school year, which student would be the best match for this job?

• Lisa goes to school every day and is often late.

• Juanita has good attendance and good work skills.

• Mike studies hard and plays in all after school programs.

• Shawn will graduate early and attend an out-of-state college.

What is the first step in career planning?

• Marketing

• Self-assessment

• Interviewing

• Job Search

This table supports the conclusions that a salary -

• doubles once a college level is attained

• stays the same for the high school levels

• grows at the same rate for each level

• increases as the level of education increases

Which economic concept is illustrated in these drawings?

• Consumer sovereignty

• Profit margin

• Opportunity cost

• Central planning

Which term describes a company that is authorized to operate as a legal person?

• Proprietorship

• Entrepreneur

• Corporation

• Partnership

A plastic company cuts costs and gains control of the plastics market in the United States.

The federal government would investigate this company's practices in order to -

• preserve competition

• conserve resources

• protect workers' rights

• safeguard international trade

Which incentive best completes this diagram

• Dividend payments

• Interest payments

• Bonuses

• Salaries

This graph shows that from 1931 to 1939, the -

• government received more money than was spent

• amount of money spent deceased every year

• government spent more money than it received

• amount of money collected increased every year