TEST - Economics - Chapter 2
Authored by Cindy Machen
History, Social Studies
12th Grade
Used 1+ times
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40 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
privilege that entitles people to own their possessions
Social Security
economic system
profit motive
fixed income
private property rights
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
driving force that encourages people and organizations to improve their material well-being
Social Security
economic system
profit motive
fixed income
private property rights
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
organized way in which a society provides for the wants and needs of its people
Social Security
economic system
profit motive
fixed income
private property rights
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
federal program of disability and retirement benefits that covers most working people
Social Security
economic system
profit motive
fixed income
private property rights
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
income that does not increase even if prices go up
Social Security
economic system
profit motive
fixed income
private property rights
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
market economy in which private citizens own the factors of production
capitalism
command economy
mixed economy
profit
voluntary exchange
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
extent to which individuals or organizations are better off at the end of an economic exchange than before the exchange
capitalism
command economy
mixed economy
profit
voluntary exchange
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