Unit 9 Test Review

• Supply and Demand

• Economic Flow (Circular Flow)

• Private Financial Institutions

• Capital Resources

The government uses tax revenues from individuals and businesses to—

• provide public goods and services.

• buy products.

• make profits.

• donate to charities.

Banks and credit unions are—

• private financial institutions.

• public goods and services.

• government agencies

• major economic systems.

Worldwide markets in which the buying and selling of goods and services by all nations, individuals, and businesses takes place is the—

• American economy.

• global economy.

• Stock Market.

• European Exchange.

• Corporation

• Proprietorship

• Partnership

• Monopoly

What type of business ownership does Reggie have?

• Corporation

• Proprietorship

• Partnership

• Merger

• Corporation

• Proprietorship

• Partnership

• Merger

A person who takes risks to produce goods and services in search of profits is—

• an entrepreneur.

• a donor.

• a loan officer.

• an antitrust regulator.

Directions: Click on all of the correct answers.

What are the reasons that states and nations trade with one another?

• create jobs by selling goods and services to other countries.

• buy goods at a lower cost or a lower opportunity cost.

• buy goods at a higher cost or a higher opportunity cost.

• obtain goods they cannot produce efficiently themselves.

• Innovations in Technology

• Outdated technology

• High taxes

• Scarcity of resources