WorksheetsEconomics Final Exam
Total questions: 20
Worksheet time: 10mins
The fact that there are limited resources to produce limited amounts of goods is known as?
Surplus
Scarcity
Income
Shortage
What economic system does the United States use?
Command System (Communism)
Mixed System
Free Market System (Capitalism)
Trade/Barter System
The law that states higher price leads to lower quantity demanded and lower price leads to higher quantity demanded.
The Law of Supply
The Law of Opportunity
The Law of Demand
The Law of Scarcity
The law of supply states that an increase in the price of goods results in an increase in the quantity supplied.
True
False
A good that can replace another good is known as
Complementary Goods
Subsidies
Substitute Goods
Replacement Goods
A market structure where a single entity controls the production or sale of a good or service, limiting competition is known as
Complete Control
Monopoly
Market Economics
Oligopoly
A business with many employees, a management structure, and stocks is known as
Partnership
Entrepeneurship
Corporation
Enterprise
The expansion and/or contraction of the money supply to influence credit is known as.
Fiscal Policy
Monetary Policy
Inflation
Deflation
Increasing the money supply to lower unemployment by increasing credit and decreasing interest rates is known as.
Fiscal Policy
Contractionary Monetary Policy
Stagnation Policy
Expansionary Monetary Policy
Decreasing the money supply to decrease inflation by reducing credit and increasing interest rates.
Fiscal Policy
Contractionary Monetary Policy
Stagnation Policy
Expansionary Monetary Policy
The Federal Reserve is also known as
The Main bank of the U.S.
The Head bank of the U.S.
The Central bank of the U.S.
None of these
This committee makes monetary policy decisions to change the money supply.
The Expansionary Monetary Committee
The Federal Open Market Committee
The Federal Reserve
The Central Bank
***WRITING TOPIC FOR FINAL***
Look back at the different techniques that companies use to influence their consumers to buy more products. You will be asked to write about these techniques. Be familiar with at least three techniques.
***WRITING TOPIC FOR FINAL***
Familiarize yourself with what a Monopoly, Oligopoly, and Perfect Competition are. Know the differences of each.
***WRITING TOPIC FOR FINAL***
You will be tasked with demonstrating your knowledge of the beginnings of the Stock Market with the role of Corporations being the focal point of your question. Familiarize yourself with the early years of Corporations as well what their goals are now.
