Unit 3 test Economics Chapters 7-8 10-11

Front

When a factory pollutes a river the resulting water pollution is an example of an:

Back

Negative Externality

Front

When a stadium promises to bring jobs and residents to a city this is known as a: Positive Externality, Negative Externality, Competition, Neutral Spillover

Back

Positive Externality

Front

What bonds are Tax-Exempt? Options: Municipal Bonds, Junk Bonds, Corporate Bonds, Doge Bonds

Back

Municipal Bonds

Front

What is an example of a public good? Options: Roads, Army, Public Schools, All of the Above

Back

All of the Above

Front

What condition is NOT necessary for Pure Competition? Options: Very Large Numbers, Identical Products, Freedom of Entry-Exit

Back

Correct Zoning

Front

What is the big disadvantage to a sole proprietorship? Options: All the decisions, All the Profits, All the liability

Back

All the liability

Front

What is the biggest advantage to a sole proprietorship? Options: All the decisions, All the Profits, All the liability

Back

All the Profits

Front

A company with four or more businesses that make unrelated products is called a:

Back

Conglomerate

Front

Which of the following is one of the three functions of money? Options: portability, scarcity, store of value, divisibility

Back

store of value

Front

Which of the following is an example of a barter system? Options: Instead of paying rent, you clean the house for the owner., Instead of paying rent with cash you use apple pay., Instead of paying full amount for car you pay with 10 monthly installments., Instead of paying for a vacation in cash you use Bitcoin

Back

Instead of paying rent, you clean the house for the owner.