GRADE 9 REVIEW

The branch of economics that deals with the overall economy, including issues like inflation, unemployment, and economic growth.

Answer explanation

MACROECONOMICS

Country Z has a combination of government control and private enterprise. The government regulates certain sectors, such as healthcare and education, while other industries are operated by private businesses and subject to market forces. Which type of economy is described?

A business organization where ownership is divided into shares and shareholders elect a board of directors to make strategic decisions, has a structure that is called __________.

Which type of business organization is owned and operated by a single individual who is personally responsible for all debts and liabilities?

In which type of business organization do two or more individuals share ownership, management, and profits, and each partner is personally liable for the debts of the business?

The branch of economics that studies the behavior and decisions of individuals and businesses on a small scale.

Answer explanation

MICROECONOMICS

Refers to the idea of evaluating the worth of anything added.

The value of an item or the best alternative that is willing to be given up in making a decision.

Choosing or sacrificing one thing in exchange for another.

Which economic system has communities that rely on their own skills and resources? They produce only what they need. The decisions are based on customs and beliefs.