SOL-Prep

Clarence is a millionaire and was arrested and charges with a felony.

What principle is being used?

• Democracy

• Consent of the govern

• Limited Government

• Rule of Law

What is the supreme law of the land?

• US Constitution

• Declaration of Independence

• Articles of Confederation

• Magna Carta

The image shows the Preamble of the Constitution which......

• Describes how someone can become a US citizen

• Explains the goals and purposes of the US government

• States separation of church and state

• Gives the power to the government

Mr. Mardaugh was on trial for the murder of his wife and son. In this criminal case Mr. Mardaugh had a right to fair trial. Which goal/purpose found in the preamble applies to this situation?

• -to form a perfect union

• -to establish justice

• -ensure domestic transquility

• -provide for the common defense

Christopher's mom opened an ice cream shop down the street from Pam's ice cream and more. What would be the benefits of having two businesses for the consumer?

• Nothing will change

• Better quality and higher prices

• Better quality and lower prices

• Poor quality and lower prices

Twilight jewelry store sells all types of jewelry that cannot be found in any store in the region which has caused the jewelry to be expensive. What economic concept is this an example of?

• Supply and demand

• Scarcity

• Traditional economy

• Incentive

What may have caused the decrease in demand for the PS5?

(Choose three)

• -A better gaming system is available

• -No longer desired as it once was

• -Income has changed and the system is no longer affordable

• The producer decided to produce more.

A business receives a _______ after all expenses have been paid.

• loyalty

• income

• profit

• partnerships

Consumer sovereignty, individual choice, lack of consumer choice, competition, and profit are characteristics of the ________ economy?

• Free Market

• Traditional

• Command

• Community

Mr. Gray owns a company that produces sneakers. Because of demand he has decided to produce more blue and white sneakers than black. What basic economic question is being asked?

• Who will produce it?

• What will be produced?

• How long will it take to produce it?

• For whom will it be produced?