WorksheetsMicroeconomics
Total questions: 22
Worksheet time: 11mins
Name
Class
Date
1.
Jeff was replaced by a computer. He is experiencing what type of unemployment?
a)
Cyclical
b)
Structural
c)
Seasonal
d)
Frictional
2.
Jeff was replaced by a computer. He is experiencing what type of unemployment?
a)
Cyclical
b)
Structural
c)
Seasonal
d)
Frictional
3.
Seth is laid off from work because he is a life guard at the local water park. He is experiencing what kind of unemployment?
a)
Structural
b)
Seasonal
c)
Frictional
d)
Cyclical
4.
Seth is laid off from work because he is a life guard at the local water park. He is experiencing what kind of unemployment?
a)
Structural
b)
Seasonal
c)
Frictional
d)
Cyclical
5.
Jim no longer has a job as a stock broker since 2008. He is experiencing what kind of unemployment?
a)
Cyclical
b)
Structural
c)
Seasonal
d)
Frictional
6.
Jim no longer has a job as a stock broker since 2008. He is experiencing what kind of unemployment?
a)
Cyclical
b)
Structural
c)
Seasonal
d)
Frictional
7.
Patrick works in the oilfield and the low gas prices have caused his company to temporarily lay people off! He is experiencing what kind of unemployment?
a)
Structural
b)
Cyclical
c)
Seasonal
d)
Frictional
8.
Patrick works in the oilfield and the low gas prices have caused his company to temporarily lay people off! He is experiencing what kind of unemployment?
a)
Structural
b)
Cyclical
c)
Seasonal
d)
Frictional
9.
Several Companies sell similar products is called what type of competition?
a)
Perfect Competition
b)
Monopolistic Competition
c)
Monopoly
d)
Oligopoly
10.
What is it when a large group of suppliers all produce the same goods?
a)
Perfect Competition
b)
Monopolistic COmpetition
c)
Monopoly
d)
Oligopoly
11.
What is it when a large group of suppliers all produce the same goods?
a)
Perfect Competition
b)
Monopolistic COmpetition
c)
Monopoly
d)
Oligopoly
12.
An example of perfect competition would be what?
a)
Milk
b)
Cars
c)
Jeans
13.
An example of perfect competition would be what?
a)
Milk
b)
Cars
c)
Jeans
14.
What is it when a few businesses dominate the market?
a)
Monopolistic Competition
b)
Monopoly
c)
Perfect Competition
d)
Oligopoly
15.
What is it when a few businesses dominate the market?
a)
Monopolistic Competition
b)
Monopoly
c)
Perfect Competition
d)
Oligopoly
16.
An example of an oligopoly would be what?
a)
Auto industry
b)
Milk
c)
Jeans
17.
An example of an oligopoly would be what?
a)
Auto industry
b)
Milk
c)
Jeans
18.
What is it when a market is controlled by one major supplier?
a)
Monopolistic Competition
b)
Perfect Competition
c)
Oligopoly
d)
Monopoly
19.
What is the biggest disadvantage of a Sole proprietorship and a partnership?
a)
Start Up Costs
b)
Taxes
c)
Unlimited Liability
d)
Receives all profits
20.
This is a special form of partnership in which one partner is the general partner and he makes all the decisions and the other partner is considered a silent partner because he only donated start up Money.
a)
Limited Liability Partnership
b)
Joint Venture
c)
Limited Partnership
d)
All of the above
21.
This type of business is owned by many people and is treated as though it were a person. It can own property, pay taxes, make contracts, sue and be sued.
a)
Sole proprietorship
b)
Partnership
c)
Joint Venture
d)
Corporation
22.
This represents ownership rights to a certain portion of profits and assets of the company.
a)
Stock
b)
Bonds
c)
Articles of incorporation
d)
corporate charter
100 %
