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Chapter 3 Pre-test

Authored by Tricia Anderson

Business

9th - 12th Grade

Used 2+ times

Chapter 3 Pre-test
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46 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A period of growth and contraction measured by GDP

business cycle

deflation

division of labor

economic indicator

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economic system where the government takes charge of all economic decisions.

centrally planned economy

fiscal policy

Federal Reserve System

gross domestic product

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When two or more businesses try to achieve profits by influencing consumers to purchase their products.

competition

labor force

market economy

deflation

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The decrease in prices and increase in the value of money.

deflation

productivity

market economy

scarcity

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount of goods that consumers want.

demand

export

import

supply

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A production process in which a worker or group of workers is assigned a specialized task to increase productivity.

division of labor

fiscal policy

market structure

monetary policy

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Government-provided benefit to specific businesses that will fulfill a government agenda.

economic development incentive

economic growth rate

competition

hyperinflation

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