SOL Review Game 10

SOL Review Game 10

2nd Grade

12 Qs

quiz-placeholder

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SOL Review Game 10

SOL Review Game 10

Assessment

Quiz

History

2nd Grade

Practice Problem

Hard

Created by

Haley Slaybaugh

Used 5+ times

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12 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of business organization is authorized by law to act as legal person regardless of the number of owners . . . . owner liability is limited to investment?

Partnership

Sole Proprietorship

Entrepreneur

Corporation

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the inability to satisfy all wants at the same time. . . which forces choices to be made?

Scarcity

Resources

Demand

Supply

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the factors of production that are used in the making of goods and services?

Choice

Resources

Supply

Demand

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The United States decides to invest money into and produce industrial equipment instead on producing shoes. The choice of not producing shoes is known as ...

Choice

Production

Supply

Opportunity Cost

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a market economy, the interaction of what determines price?

Resources and Factors of Production

Supply and Demand

Production and Consumption

Price and Competition

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the type of economy where individuals and businesses are decision makers for private sector; the government is the decision maker for the public sector?

Free Market

Mixed

Traditional

Command

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The key factor in determining the type of economy a country has is based on the extent of whose involvement in the economy?

Government

Congressmen

Voters

Business owners

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