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Quiz - Economics 2-3

Authored by Cindy Machen

History, Social Studies

12th Grade

Used 2+ times

Quiz - Economics 2-3
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11 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the struggle among sellers to attract consumers while lowering costs

capitalism

profit motive

competition

voluntary exchange

mixed economy

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

economy in which free economic activity is subject to some government intervention and regulation

capitalism

profit motive

competition

voluntary exchange

mixed economy

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the driving force that encourages people and organizations to improve their material well-being

capitalism

profit motive

competition

voluntary exchange

mixed economy

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a characteristic of capitalism in which buyers and sellers freely and willingly engage in market transactions

capitalism

profit motive

competition

voluntary exchange

mixed economy

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

economic system in which private citizens own the factors of production

capitalism

profit motive

competition

voluntary exchange

mixed economy

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

concept that the consumer is the ruler of the market

consumer sovereignty

profit motive

competition

voluntary exchange

mixed economy

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All of the following are characteristics of capitalism EXCEPT

private property rights.

economic freedom.

profit motive.

government control.

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