
Economic Concepts Quiz
Interactive Video
•
Social Studies
•
12th Grade
•
Easy
Susanna Hitt
Used 1+ times
FREE Resource
62 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the business cycle describe?
The process of starting a new business
The economic decisions made by a single company
The ups and downs, or fluctuations, in an economy
The creditworthiness of a consumer
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a command economy?
An economy where the market is free from government intervention
An economy where consumers make all the economic decisions
An economy where economic decisions are largely made by a central authority
An economy based on the creditworthiness of consumers
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who is considered a consumer?
A person who provides goods and services
A person who buys goods and services to satisfy their wants and needs
A central authority in a command economy
A lender assessing the creditworthiness of an individual
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is credit?
The history of a person's financial decisions
The ability of a consumer to obtain financing necessary to purchase goods or services before payment
The economic cycle of a country
The system of economic decision-making in a command economy
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does creditworthiness refer to?
The economic stability of a country
The ability of a consumer to buy goods and services
The level of confidence a lender has in awarding financial credit to a person or company
The decision-making process in a command economy
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is debt?
The act of making a purchase with the expectation of a profit.
Money owed to others or the state of owing money.
A plan to get a debt under control through financial planning and budgeting.
Income remaining after deduction of taxes and other obligations.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of debt management?
To control the way a business can operate.
To study the economics of a country as a whole.
To get a debt under control through financial planning and budgeting.
To motivate people to respond in predictable ways.
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