
Economics Final Practice
Authored by Christopher Cook
Social Studies
12th Grade
Used 2+ times

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75 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A characteristic of credit cards is -
repayment problems
purchase products without having enough money
accepted in most countries
All of these
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To ensure the safety of products through regulation is one of the roles of the -
consumers
business owners
government
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Companies who control all the different phases of the business to control profits & maximize efficiency use the method called
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Companies who specialize in one area of business use the method of organization called
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A technological monopoly involves:
Stealing plans from another business.
Being the only seller in a small town.
Having a patent for a new invention or scientific process.
Having a few sellers in the market.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In an oligopoly...
One seller dominates the market
A few sellers dominate the market
Many sellers are in the market
No sellers exist in the market
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does Gross Domestic Product
mean?
The total value of all goods and services a country imports.
The total value of all goods and services a country exports.
The total value of all goods and services produced within a country in one year.
The net loss in profits within a country due to imports.
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