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TCI 3.1-3.4 Review

Authored by Tyler Holmes

Social Studies

12th Grade

Used 9+ times

TCI 3.1-3.4 Review
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The three fundamental economic questions are

how much credit to extend, at what cost, and for whom?

what to produce, how, and for whom?

how many jobs to create, when, and for whom?

what currency to use, at what value, and how to exchange it?

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why does every society face difficult choices in deciding what to produce?

Each society has limited resources and limited wants.

Each society has unlimited resources and limited wants.

Each society has limited resources but unlimited wants.

Each society has unlimited resources and unlimited wants.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The ability to make our own economic decisions without interference from the government is called

economic equity

economic freedom

economic growth

economic stability

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A society that values economic equity seeks to

provide its poorer members with food, shelter, and health care to live decently

ensure that the good and services we rely on are always there

provide a job to everyone who seeks one

give everyone a fair share of the economic pie

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which economic goal is encroached upon when the government taxes your wages in order to provide unemployment benefits to help those out of work?

economic equity

economic stability

economic freedom

economic efficiency

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Market economies

call for property to be owned by society as a whole for the equal benefit of all

ensure that all property is owned by all members of society, and government is no longer needed

are inefficient and wasteful, resulting in very slow production of shoddy products

are highly efficient at producing goods and services that people want and are willing to pay for

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the circular flow model illustrate?

It shows how money, goods, and resources move through a market economy

It explains the theory of the overthrow of capitalism and the development of communism

It illustrates the differences among traditional, command, and market economies

It depicts the key characteristics of the United States economic system

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