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Chapter 13 Quiz #1 PF

Authored by William Dawson

Mathematics

12th Grade

CCSS covered

Used 4+ times

Chapter 13 Quiz #1 PF
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is specialization?

It's when a person chooses to specialize in one career field but it ends up harming their economy.

It's when a capitalist nation decides to focus its efforts on producing only 7 types of services.

It's when a country focuses its efforts on producing a limited variety of goods or services.

It's when an economy is completely self-sustaining.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An extreme result of free-market capitalism without government regulation is referred to as . . .

A monoploy

Capitalism

Socialism

A mixed economy

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Whether a country is developed or developing depends on . . .

The age of their country and when their economy plans to retire

The country's per capita income, standard of living, technology, education, personal freedom and poverty level

The amount of native people living in the country at the time of development

Their overall population and how quickly their country is currently growing

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

_____________ never really works for an economy because there's little innovation and no reward for starting a business, as well as an unmotivated labor force because workers are often assigned jobs.

Capitalism

Socialism

Market economy

Monopoly

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Socialism is an example of a ____________ economy where the _____________ is/are at the center.

Market; people

Free; monopoly

Specialized; market

Command; government

Tags

CCSS.RI.11-12.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

_______________ is the science of the whole economy, while is the study of people, individual businesses, or markets.

Global economics; microeconomics

Macroeconomics; global economics

Macroeconomics; microeconomics

Microeconomics; macroeconomics

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The U.S. is mostly a . . .

Focused economy

Free market

Demand

GDP

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