Tutorial 4 Quiz

Tutorial 4 Quiz

9th - 12th Grade

50 Qs

quiz-placeholder

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Tutorial 4 Quiz

Tutorial 4 Quiz

Assessment

Quiz

Social Studies

9th - 12th Grade

Easy

Created by

mandy s

Used 135+ times

FREE Resource

50 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best describes profit?

Total money taken in by a corporation

Increases in income from year to year

Increases in a corporation's stock price

Revenue generated by goods and services

Difference between revenues and expenses

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who is described as the person who accepts the risks and opportunities inherent in a new business opportunity?

Capital managers

Entrepreneurs

Human resources

Home country economic systems managers

Information technology managers

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When making decisions about production and allocation, which type of system depends on individual producers and consumers to create a combination of supply and demand?

Planned economy

Communism

Private economy

Market economy

Socialism

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The idea that individuals would contribute according to their abilities and receive benefits according to their needs supports which type of economy?

Market economy

Socialist based economy

Mixed market economy

Capitalist market economy

Communist based economy

5.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Which of the following does a market economy depend on?

Profits

Freedom of choice

Economic restrictions

Competition

Privatization

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following occurs when two or more business compete for the same resources or customers?

Shortage

Competition

Demand fluctuation

Perfect competition

Decreased aggregate output

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of competition includes relatively few but large sellers who have the power to influence the prices of their products and significantly affect the sales of every other firm in the industry?

Perfect competition

Parity

Balance of trade

Natural monopoly

Oligopoly

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