Midterm Review Part 2

Midterm Review Part 2

11th - 12th Grade

20 Qs

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Midterm Review Part 2

Midterm Review Part 2

Assessment

Quiz

Other, Social Studies

11th - 12th Grade

Practice Problem

Medium

Created by

Teacher A

Used 5+ times

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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Vocab- To rise and fall frequently between one level or thing and another

Stability

Neutral

Fluctuate

Instability

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

2. If a product is desired by consumers, it has____________

Criteria

Quantity

Demand

Supply

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

3. Which of the following is not an advantage of prices?

Ease

Familiarity

Efficiency

Neutrality

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

4. Something that is done or brought about by free choice is:

Stability

Force

Voluntary

Shortage

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

5. In which type of economy does the government control the allocation of resources? (Example: North Korea)

Command

Traditional

Mixed

Market

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

6. Communism is an example of a/an ____________.

Mixed economy

Market economy

Command economy

Traditional economy

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

7. The lowest legal price that can be paid for an item is the__________.

Target price

Best deal

Price floor

Minimum price

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