Fundamentals of Economics and Finance

Fundamentals of Economics and Finance

10th Grade

15 Qs

quiz-placeholder

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Fundamentals of Economics and Finance

Fundamentals of Economics and Finance

Assessment

Quiz

Life Skills

10th Grade

Practice Problem

Medium

Created by

Rosemarie Rellona Womack

Used 8+ times

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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the basic economic problem that all societies face?

Inflation

Scarcity

Unemployment

Recession

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a characteristic of a perfectly competitive market?

Few sellers

Unique products

Free entry and exit

Price makers

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the demand for a product increases, what is likely to happen to the price of the product, assuming supply remains constant?

The price will decrease

The price will increase

The price will remain the same

The price will fluctuate randomly

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a fixed expense in a personal budget?

Groceries

Rent

Entertainment

Dining out

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary purpose of a stock market?

To provide loans to businesses

To facilitate the buying and selling of company shares

To regulate interest rates

To control inflation

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Calculate the simple interest earned on a principal of $1000 at an interest rate of 5% per annum for 3 years.

$150

$50

$200

$300

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best describes a bond?

A share of ownership in a company

A loan made to a corporation or government

A savings account with a fixed interest rate

A type of insurance policy

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