Econ Pre-Test
Quiz
•
Social Studies
•
9th - 12th Grade
•
Practice Problem
•
Medium
Isai Bonilla
Used 3+ times
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14 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a principle of free enterprise?
Government control of all businesses
Private ownership of property
Centralized economic planning
Fixed prices set by the government
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best describes an entrepreneur?
A person who works for a large corporation
A person who starts and runs their own business
A government official who regulates businesses
A consumer who buys products
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a benefit of creating a budget?
Encourages impulsive spending
Helps track income and expenses
Increases financial uncertainty
Reduces savings
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a free enterprise system, what motivates businesses to improve products and services?
Government regulations
Consumer demand and competition
Fixed pricing
Centralized planning
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a free enterprise system, who determines what goods and services are produced?
The government
Consumers and producers
International organizations
Central banks
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main goal of saving money?
To increase debt
To prepare for future financial needs
To spend on non-essential items
To avoid paying taxes
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the first step in financial planning?
Investing in stocks
Setting financial goals
Taking out a loan
Spending money on luxury items
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