Economics Quiz

Economics is the study of how a society __________.

• Invests in the stock market

• Employs resources to produce goods and services and distribute them among competing groups and individuals

• Employs statistical techniques to make predictions about the evolution of society over the long run

• Governs itself for the good of its citizens

The customers, employees, stockholders, suppliers, creditors, and others who stand to gain or lose by the policies and activities of a business represent the firm's __________.

• Market Makers

• Economic Environment

• Stakeholders

• Social Mentors

Which of the following policies would tend to foster entrepreneurship?

• Promote private ownership of businesses

• Enact more regulations to protect the environment

• Develop policies to reduce corruption between individuals

• Boost government ownership of businesses

Which of the following is a factor of production?

• Bonds

• Money

• Knowledge

• Service

People over 65 years old represent:

• The unemployed generation

• The single parent family generation

• A potentially lucrative market

• A group that has never contributed to Social Security

Which of the following is the best example of a business whose goal is to earn a profit?

• A community college

• American Red Cross

• Boy Scouts of America

• Apple

As a factor of production, the term capital includes

• Stocks and bonds issued by corporations

• Natural resources such as land and water

• Tools, machinery, and buildings

• Services provided by the government that enable businesses to be more productive

Which of the following industries will most likely benefit from an aging population?

• Financial services to help clients plan for their education

• Home Health care businesses

• Children's day care centers

• Auto industry

The statistical study of human population to learn its size, density, and characteristics is called

• Psychographics

• Econometrics

• Demographics

• Sociology

__________ is the amount a business earns after deducting what it spends for salaries and other expenses.

• Profit

• Revenue

• Interest

• Dividends