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Chapter 3 Test

Authored by Mason Black

History

11th Grade

Used 1+ times

Chapter 3 Test
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12 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is Gross National Product?

Gross National Product is the total value of all imports and exports.
Gross National Product is the total population of a country.

Gross National Product (GNP) is the total value of all goods and services produced by a country during a year.

Gross National Product measures only the domestic production of goods.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a policy that government should interfere as little as possible in the nation's economy

Regulated capitalism
Interventionist policy
Laissez-faire
Socialism

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

one who organizes, manages, and assumes the risk of a business or enterprise

Entrepreneur
Investor
Shareholder
Manager

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a time zone?

A time zone is a region with the same standard time.
A time zone is a seasonal change in weather.
A time zone is a measurement of distance.
A time zone is a type of clock.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a land Grant?

A land grant is a Grant of land by the federal government.

A land grant is a loan provided for purchasing land.
A land grant is a tax incentive for businesses.
A land grant is a type of agricultural subsidy.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

an organization that is authorized by law to carry on an activity but treated as though it were a single person

Sole Proprietorship
Corporation
Nonprofit Organization
Partnership

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is economies of scale?

Economies of scale are the cost advantages that arise when production becomes efficient, as the scale of production increases.
Economies of scale are the financial losses incurred when production is too high.
Economies of scale describe the environmental impact of large-scale production.
Economies of scale refer to the increase in product quality with higher production.

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