
Quiz 4 Review
Authored by Garrett Kersey
Social Studies
12th Grade
Used 3+ times

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22 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Market economies are based on ________ ownership and voluntary exchange, which must be protected by the government.
private
public
communal
state
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are contracts?
Informal promises between friends
Legal agreements between buyers and sellers which establish the rights of each side
Government regulations
None of the above
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The government helps protect the rights of each side in a contract.
True
False
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Fill in the blank: ________ or services are provided by private ownership, and you pay for the whole product, and you receive the whole product.
Private goods
Public goods
Club goods
Common resources
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of goods and services are provided by local, state, and federal governments, where you receive shared benefits and pay shared costs?
Private goods
Public goods
Luxury goods
Imported goods
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are transfer payments? Fill in the blank: Transfer payments are the payments that require no _______ in return. It is the redistribution of income.
services
taxes
goods
loans
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT an example of a transfer payment?
Welfare benefits
Food stamps
Buying a car
Subsidized housing
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