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Chapter 3 Economics

Authored by Ty Thomas

Social Studies

10th - 12th Grade

Used 8+ times

Chapter 3 Economics
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17 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The desire for financial gain as an incentive in economic activity. It one of the basic principles of free enterprise.

Legal Equality

Private Property Rights

Competition

Profit Motive

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

An opportunity that has not yet been won or lost and is at any of the sale stages. It is one of the basic principles of free enterprise.

Open Opportunity

Legal Equality

Private Property Rights

Profit Motive

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Tangible and intangible things owned by individuals or firms over which their owners have exclusive and absolute legal rights. It is one of the basic principles of free enterprise.

Profit Motive

Open Opportunity

Private Property Rights

Legal Equality

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The concept that people may decide what agreements they want to enter into. It is one of the basic principles of free enterprise.

Private Property Rights

Free Contract

Voluntary exchange

Competition

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The rivalry companies selling similar products and services with the goal of achieving the consumer's money. It is one of the basic principles of free enterprise.

Profit Motive

Free Contract

Voluntary Exchange

Competition

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Laws that require companies to provide consumers with important information about their products.

Public Interest

Public Disclosure Law

Interest Group

Voluntary Exchange

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Governments involvement in concerns of the public as a whole: environmental protection, sanitary food production

Public Interest

Public Disclosure Law

Interest Group

Competition

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