
F23 - Economic Systems
Authored by Dean Kuckelman
Business
10th Grade
Used 11+ times

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30 questions
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1.
MATCH QUESTION
1 min • 1 pt
Match the term with its description:
Goods
Intangible offerings of businesses that can’t be held, touched, or stored.
Revenues
Money a business receives by providing services or selling goods to customers
Profit
Tangible items manufactured by businesses
Services
Costs for rent, salaries, supplies, transportation
Expenses
If revenue is greater than expenses
2.
MATCH QUESTION
1 min • 1 pt
Match the term with its description:
Economic Conditions
Physical conditions in the environment that can impact businesses
Natural Forces
Unemployment rates, consumers' disposable income, and interest rates.
Political Forces
Tarrifs, taxes, subsidies
Demographic factors
The characteristics of a population that influence what goods or services are likely to do well with that group of potential customers.
3.
MATCH QUESTION
1 min • 1 pt
Match the following
Needs
Cameras are becoming less common household items, for example
Socio-cultural forces
Things that are necessary to survive, like housing and food
Discretionary income
Things that we might buy with discretionary income
Technological forces
Belief systems and practices, customs, traditions and behaviors of potential customers
Wants
Money that consumers have left over for wants after paying for all their needs.
4.
MATCH QUESTION
1 min • 1 pt
Match the term with its description:
Price Signals
_____ benefits provided by the government to producers, usually in the form of tax pardons or cash payments
Subsidies
____ can reduce the amount of money that consumers have available to spend
Tarrif
____ are the main control over supply and demand in a centralized economy
Taxes
____ are the main control over supply and demand in a free market economy
Government decisions
Tax imposed by one country on the goods and services imported from another country.
5.
MATCH QUESTION
1 min • 1 pt
Match the term with its description:
CPI
Prices that people pay for goods and services
Household Income
The price that you pay for borrowing money
Cost of Living
The average income earned per family.
Standard of living
The amount of goods and services people can buy with the money they have.
Interest
Measure of the average change over time in the prices paid by
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these is NOT included in measuring the quality of life:
life expectancy
educational standards
health and sanitation
leisure time
consumer price index (CPI)
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these is NOT one of the four traditional factors of production that are common to all productive activity:
natural resources
labor
capital
entrepreneurship
tarrifs
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