Chapter 7 Review EPF

What type of economy is fueled by cultural influence, customs, and tradition? This type of Economy frequently uses the barter system.

• Market Economy

• Traditional Economy

• Centrally Planned

• Mixed Economy

This type of market forms when one company controls the supply of all products of a similar type.

• Oligopoly

• Monopolistic Competition

• Prefect Competition

• Monopoly

interest is measured as a _____. (mathematical term for determining parts in a whole out of 100)  

• Percentage

• Supply

• Demand

What is the name for money collected from an individual by the government and then redistributed by the government to better public resources

• Bills

• Taxes

• Income

• Revenue

An uninformed purchase, poor financial policy, or a poor investment can be defined as:

• Irresponsible Spending

• Supply and Demand

• Productivity

What type of economy is completely regulated and controlled by the government?

• Monoploy

• Oligopoly

• Centrally Planned Economy

• Monopolistic Competition

What term is defined as multiple businesses controlling a market and selling similar or identical products?

• Monopolistic Competition

• Centrally Planned Economy

• Monopoly

• Oligopoly

The _____   _____ is a measurement of the amount of people who do not work in a given country/state/city/county.

• Interest Rate

• Gross Domestic Product

• Unemployment Rate

Including Tax Breaks, low-interest loans, and grants, these policies and regulations are used by the government to show businesses and the public that they are working to improve economic conditions.

• Economic Development Incentives

• Gross Domestic Product

• Interest Rate

• Revenue

_____ and ______ are the two measurements people use to identify how individuals are interacting with certain markets 

• Increase and Decline

• Supply and Demand

• Goods and Services