Ch 2 Economics Practice Test1

Ch 2 Economics Practice Test1

12th Grade

43 Qs

quiz-placeholder

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Ch 2 Economics Practice Test1

Ch 2 Economics Practice Test1

Assessment

Quiz

Financial Education

12th Grade

Practice Problem

Easy

Created by

Denise Tucker

Used 10+ times

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43 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the advantage of the line graph over the schedule?

It better illustrates results
It contains more data
It is less complicated
It is more scientific

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What do the points of a graphed line on a PPC graph represent?

Production variables
Minimum costs
Wasted resources
Production efficiency

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What are the two basic elements of the circular flow model?

Households and business firms
Firms and stock markets
Stock markets and banks
Banks and households

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

From whom do businesses ultimately receive the factors of production?

Banks
Government
Households
Stockholders

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following can NOT be considered an example of land?

Wheat
Petroleum
Sheep
Machinery

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which model is designed to illustrate the economy of an entire nation?

Circular flow model
Line graph
Tabular graph
PPC

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following can NOT be considered an example of capital?

Business loan
House
Tractor
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