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2.03 - 2.05 Test Business Environment

Authored by Diane Coffing

Business

9th - 12th Grade

63 Questions

Used 5+ times

2.03 - 2.05 Test Business Environment
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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following types of economic systems adopts the fewest new ideas or improvements?

Command

Socialist Command

Traditional

Market

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

One way that competition helps build a prosperous society is by

replacing small businesses with large ones

creating government legislation

creating new jobs

increasing the money supply

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Because of competition, people in our society enjoy

a narrower selection of goods or services

fewer changes in existing goods or services

government control of our economic system and businesses

higher standard of living than that of people in many other countries

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following pieces of legislation prevents monopolies from forming and hinders price fixing

Clayton Act

Robinson-Patman Act

Sherman Antitrust Act

Celler-Kefauver Antimerger Act

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is a direct benefit to consumers of the effects of competition

higher product prices

wider product selection

wise use of resources

fewer new businesses in the market

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following are qualities of monopolies

high prices and low production

low production and much competition

high prices and much competition

low prices and little competition

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Offering high quality, large assortments, and free shipping are examples of

rebates

non price competition

price fixing

price competition

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