POB Unit 5 Test Review
Quiz
•
Business
•
9th - 12th Grade
•
Medium
Erik Cain
Used 7+ times
FREE Resource
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31 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following items would be considered a non-economic want:
a car
new clothing
a walk
nutritious food
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A business that begins selling winter holiday decorations in late autumn is creating __________ utility.
possession
time
place
form
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A major characteristic of a market economy is ____________ ownership of property.
private
government
limited
monopolistic
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is a problem associated with communist command economies?
There are high taxes
Individuals run the risk of losing their business
Supply and demand control what will be produced
There is no competition
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Countries whose governments provide citizens with free medical care, education, and other benefits often are referred to as ________________ states
consumer
welfare
military
capitalist
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The basic role of the United States government is to:
protect U.S. citizens
maintain control of prices
increase production
limit business startups
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
In a private enterprise economic system, the interaction of supply and demand primarily determines:
the extent of pollution
economic choices
product prices
government regulation
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