final review

final review

Assessment

Quiz

Other

12th Grade

Practice Problem

Easy

Created by

Seth Risner

Used 11+ times

FREE Resource

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220 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is generally accepted as a valid criticism of the production of useful goods and services?

government involvement

the black market

environmental pollution

economic freedom

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a market-oriented economy, the amount of a good that is produced is primarily decided by the interaction of:

all consumers

buyers and sellers

producers and input suppliers

producers and government planning committees

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Macroeconomic topics do not usually include:

the profit maximizing decisions of an individual manufacturer.

the rate of inflation

the rate of unemployment

economic growth

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the ____________, households work and receive payment from firms.

financial investment market

financial capital market

labor market

savings market

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The basic difference between macroeconomics and microeconomics is:

microeconomics concentrates on individual markets while macroeconomics focuses primarily on international trade.

microeconomics concentrates on the behaviour of individual consumers while macroeconomics focuses on the behaviour of firms.

microeconomics concentrates on the behaviour of individual consumers and firms while macroeconomics focuses on the performance of the entire economy.

microeconomics explores the causes of inflation while macroeconomics focuses on the causes of unemployment.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which one looks at the big picture

Macroeconomics

Microeconomics

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Is the product market(goods market) and the factor market(AKA resource market) the same thing?

True

False

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