Econ Review

Econ Review

10th Grade

85 Qs

quiz-placeholder

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Econ Review

Econ Review

Assessment

Quiz

History

10th Grade

Hard

CCSS
RI.9-10.4, HSF-IF.C.7A, RI.11-12.4

+2

Standards-aligned

Created by

Katie Darnley

Used 1+ times

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85 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What role does government play in the circular flow model?

purchases goods and services in the product market
collects taxes from businesses and individuals
purchases resources in the factor market
all of the above

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

FICA, Medicare, Income, and Social Security taxes are examples of:

National taxes
Local taxes
state taxes

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Walmart sets the price of cheese at 2.00 a pound. Meijer then lowers the price of the same cheese at their store..this is called

demand

scarcity

competition

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The xbox is built on an assembly line. Each person does one specific job. This is called...

division of labor

supply and demand

economics

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A market economy has?

freedom

money

time

people

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Someone who wants to control every aspect of their business should form this type of business.

Sole Proprietor

Partnership

Corporation

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A father who wants to take his son into the business with him should form this type of business.

Sole Proprietorship

Partnership

Corporation

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