Economics Quiz Review

Which industry closely relates to a factory?

• Agriculture

• Manufacturing

• Retail

• Service

Which industry relates to farming?

• Agriculture

• Manufacturing

• Retail

• Service

Which industry includes shopping centers like Target and Foot Locker?

• Manufacturing

• Agriculture

• Retail

• Service

Which industry includes jobs businesses such as barbershops and restaurants?

• Manufacturing

• Agriculture

• Retail

• Service

Which type of economy has very little government interference?

• Free Market

• Socialist

• Communist

Which type of economy encourages competition between businesses?

• Free Market

• Socialist

• Communist

• Traditional

In which type of economy does the government control the factors of production?

• Free Market

• Mixed

• Communist

Which of the following is NOT an economic system?

• Free Market

• Capitalist

• Communist

• Luxury

Which of the following is NOT one of the factors of production

• Land (resources)

• Labor

• Capital

• Computers

A person who starts a business with the hope of making a profit

• Land

• Labor

• Capital

• Entrepreneur