Chapter 3 - Economics
Authored by YancyBeth Boothe
Social Studies
12th Grade
Used 172+ times
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40 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the force that encourages people and organizations to improve their material well-being
voluntary exchange
legal equality
profit motive
business cycle
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the concept that everyone can compete in the marketplace
competition
free contract
legal equality
open opportunity
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the concept that people have the right and privilege to control their possessions as they wish
free contract
private property rights
public interest
externality
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the concept of giving everyone the same legal rights
free rider
voluntary exchange
legal equality
in-kind benefits
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the concept that people may decide what agreements they want to enter into
free contract
public interest
microeconomics
macroeconomics
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the concept that people may decide what and when they want to buy and sell
competition
gross domestic product
voluntary exchange
public good
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the rivalry among sellers to attract customers while lowering costs
market failure
interest group
public interest
competition
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