Tutorial 4 Quiz

Quiz
•
Social Studies
•
9th - 12th Grade
•
Easy

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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