Unit 1 Test (ECON)

Unit 1 Test (ECON)

11th Grade

39 Qs

quiz-placeholder

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Unit 1 Test (ECON)

Unit 1 Test (ECON)

Assessment

Quiz

Other

11th Grade

Practice Problem

Easy

Created by

Bryan Mitchell

Used 114+ times

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39 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If individuals in an economic system do what their parents did for a living, the economic system is

classified as _____

Private

Traditional

Command

Market

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economic services are not tangible.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The minimum wage is an example of a federal law that promotes ____

economic growth

economic equity

full employment

economic efficiency

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The former Soviet Union and North Korea have command economies.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which group of people ultimately determine what is produced in a free enterprise economy?

Congress

consumers

the president

consumers/business

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The factors of production are land, labor, capital, entrepreneurship, and technology

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a market economy?

Cuba

Taiwan

the former Soviet Union

North Korea

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