Economics: Work and Prosperity Test 3

Economics: Work and Prosperity Test 3

9th - 12th Grade

46 Qs

quiz-placeholder

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Economics: Work and Prosperity Test 3

Economics: Work and Prosperity Test 3

Assessment

Quiz

Social Studies

9th - 12th Grade

Medium

Created by

Mrs. A. Weldon

Used 4+ times

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46 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of good is a truck used by a florist to deliver flowers?

supplier

productive

capital

consumer

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

 If Gordon McConnell's accounting business had expenses equaling $90,000 and revenues totaling $115,000 last year, but he could have had a salary of $80,000 working for someone else, what was his opportunity cost?

$125,000

$105,000

$55,000

$45,000

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

 What type of good does not last more than three years?

durable good

normal good

nondurable good

inferior good

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of economic system is controlled by a centralized authority?

traditional

mixed

free enterprise

command

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Besides limited government and freedom of enterprise and competition, to what does the free market economy owe its proficiency?

property rights

natural resources

 productivity

division of labor

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the retail clothing industry in a large city an example of?

oligopoly

monopolistic competition

monopoly

perfect competition

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which group favored a "natural economy"?

mercantilists

physiocrats

protectionists

imperialists

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