
Ch #3 Test Economics (A)
Authored by C. L. McMillan
Social Studies
10th Grade
Used 5+ times

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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the rivalry among sellers to attract customers while lowering costs
Profit Motive
Competition
Open Opportunity
Business Cycle
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the force that encourages people and organizations to improve their material well being
Cash Transfers
Competition
Profit Motive
Gross Domestic Product (GDP)
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the total value of all final goods and services produced in a particular economy.
Gross Domestic Product (GDP)
Profit Motive
Cash Transfers
welfare
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the concept that people may decide what and when they want to buy and sell.
Free Contract
Public Disclosure Laws
Open Opportunity
Voluntary Exchange
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the study of the economic behavior and decision making of small units, such as individuals, families and businesses
Macroeconomics
Business Cycle
Microeconomics
Public Disclosure Laws
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
laws requiring companies to provide full information about their products.
Free Contract Laws
Public Disclosure Laws
Business Cycle
Public Laws
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the study of the behavior and decision making of entire economies.
Microeconomics
Open Opportunity
Macroeconomics
Public Disclosure Laws
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