Economics Final DOL

Economics Final DOL

12th Grade

15 Qs

quiz-placeholder

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Economics Final DOL

Economics Final DOL

Assessment

Quiz

History

12th Grade

Practice Problem

Medium

Created by

Tamia Myers

Used 1+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which factor of production represents man-made resources like machinery, tools, and buildings used in production?

Labor

Capital

Land

Entrepreneurship

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term for the human workforce involved in producing goods and services?

Capital

Labor

Land

Entrepreneurship

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of economic system is characterized by the market determining prices, products, and services?

Command Economy

Free Enterprise

Traditional Economy

Mixed Economy

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In which market structure is entry and exit relatively easy?

Monopoly

Oligopoly

Monopolistic Competition

Perfect Competition

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the verification method for positive economic analysis?

Based on opinions

Cannot be verified

Can be verified with real data

Based on judgments

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of incentive encourages behavior to increase social status?

Moral Incentive

Social Incentive

Economic Incentive

Coercive Incentive

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does fiscal policy refer to?

Monetary policy

Taxing and spending policies of the government

Trade policies

Environmental policies

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