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POB Unit 5 Test Review

Authored by Erik Cain

Business

9th - 12th Grade

Used 7+ times

POB Unit 5 Test Review
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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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