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Topic 2 Vocab Review

Authored by TYLER SCHANK

History

11th Grade

Used 3+ times

Topic 2 Vocab Review
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29 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Entrepreneur

Someone who works for a large corporation.
A person who only invests in stocks.
An individual who manages a team of employees.

A person who starts and runs a business.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Free Enterprise

An economic system with complete government control.

Economic system of private ownership and minimal government intervention.

A system where all businesses are owned by the state.
An economic model that prohibits private ownership.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Laissez-Faire

Laissez-faire is an economic system where transactions between private parties are free from government intervention.

Laissez-faire is an economic system where transactions between public parties are controlled by the government.

Laissez-faire is an economic system where transactions between private parties are subject to government intervention.

Laissez-faire is irrelevant to U.S. economics, it only applies to French politics.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Patent

A type of trademark for brands.
A method of copyrighting artistic works.
A legal right granted to an inventor.
A financial investment in technology.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Bessemer Process

A technique for refining gold from ore.
A method for producing steel from iron.
A process for making aluminum from bauxite.
A method for producing glass from sand.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Mass Production

Mass production is a method that focuses on producing small batches of goods.
Mass production is only used for custom-made items.
Mass production is a manufacturing process that produces large quantities of standardized products.
Mass production refers to the process of creating unique, handcrafted products.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Corporation

A corporation is a type of partnership.
A corporation is owned by a single individual.
A corporation is a temporary business structure.

A business that is a legal entity that is separate from its owners.

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