Econ Unit 2

Econ Unit 2

12th Grade

20 Qs

quiz-placeholder

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Econ Unit 2

Econ Unit 2

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Medium

Created by

Billy Helms

Used 22+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This drives individuals and businesses to make decisions that improve their Material well being.

Profit Motive

welfare

GDP

Traditional Economy

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The concentration of the productive efforts of individuals on a limited number of activities.

Specialization

Market Failure

Eminent Domain

Business cycle

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Alternating pattern of periodic expansion and contraction

Specialization

Interst Group

Business Cycle

Welfare

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Government aid to individuals with lower incomes

Market Failure

Welfare

Business Cycle

Specialization

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Answers the three basic economic questions

Specialization

Interest Group

Welfare

Free Market Economy

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This relies on habit, custom or ritual

Traditional Economy

Zen Economy

Supply Side Economics

Voodoo Economics

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A situation in which the free market operating on its own does not distribute resources efficiently

Failure of Lunch

Backside Fakie

Market Failure

Failure to launch

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