Unit 1 Fundamentals of Economics Review

Unit 1 Fundamentals of Economics Review

12th Grade

20 Qs

quiz-placeholder

Similar activities

Fiscal Policy

Fiscal Policy

12th Grade

15 Qs

Economic Systems Review Quiz

Economic Systems Review Quiz

9th - 12th Grade

20 Qs

Economics Unit 4 Review

Economics Unit 4 Review

9th - 12th Grade

18 Qs

Factors of Production/Economic Systems Test Review

Factors of Production/Economic Systems Test Review

12th Grade

17 Qs

Command and Market Economies (Vocabulary)

Command and Market Economies (Vocabulary)

11th - 12th Grade

17 Qs

Economic Systems and Decision Making

Economic Systems and Decision Making

12th Grade

15 Qs

Economy Types

Economy Types

6th Grade - University

15 Qs

Economics Chapter Two Section One

Economics Chapter Two Section One

12th Grade - University

15 Qs

Unit 1 Fundamentals of Economics Review

Unit 1 Fundamentals of Economics Review

Assessment

Quiz

Social Studies, Other

12th Grade

Medium

Created by

Stephanie Windon

Used 22+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is one way that technology can improve the production of goods?

Websites can allow consumers to purchase goods online.

Container ships can transport a number of goods at once.

Automation can create goods more cheaply and easily.

Airlines can send goods from one place to another.

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Economists can use new technology to

study data and patterns.

create and apply automation.

improve production and shipping.

increase demand and consumption.

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Who was Adam Smith?

He was a philosopher who promoted the idea of free enterprise.

He was an economist who spoke against the market economy.

He was an official who ran an important government agency.

He was a producer who operated a factory in Scotland.

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In a competitive market, a computer store offers customers a warranty to help pay for any future damages. This is an example of

following a federal regulation.

lowering prices for customers.

reducing the risk for consumers.

creating a new or better product.

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Public property is land or goods

owned by an individual.

owned by the government.

used for private businesses.

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In a mixed market economy, what is a typical way the government can reduce unemployment?

The government can pay for projects to create work.

The government can control factories to provide jobs.

The government can create new farm fields to hire workers.

The government can raise taxes to encourage employment.

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is one example of a closed economy?

A barter system that does not rely on money or other currency.

A restricted system that blocks trade with international partners.

A trade-based system that encourages the flow of goods and services.

An old-fashioned system that preserves traditional choices and customs.

Create a free account and access millions of resources

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

By signing up, you agree to our Terms of Service & Privacy Policy

Already have an account?