
Econ Quiz 2
Quiz
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others
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Practice Problem
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Hard
Inderpaul S Bhullar
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21 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
Who is considered the father of Communism and Socialism, and authored The Communist Manifesto?
2.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
What is the term for a place where goods are bought and sold?
3.
MULTIPLE CHOICE QUESTION
30 sec • 3 pts
What economic concept advocates for minimal government intervention in business and allows the free market to regulate itself?
4.
MULTIPLE CHOICE QUESTION
30 sec • 3 pts
The United States has an economic system that allows us to make our own choices. Which economic goal allows us to have this lack of restrictions?
5.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
“Hey, Mr. Bhullar! Have you heard the news? Sprint is now selling the latest Samsung Galaxy phone to compete with the Apple iPhone 16. Now I don’t know which phone I’m going to buy!” said James. What market principle is best demonstrated by Sprint selling the latest Samsung Galaxy phone to compete with the Apple iPhone 16?
6.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
Elon Musk purchased Twitter and transitioned it into a privately owned company. What term best describes this process?
7.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
Exchanging Pokémon, or when sports teams trade players after both sides recognize the benefits, is a good example of which feature of a market economy?
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