2.04_EC72 H. Marketing Applications Review

2.04_EC72 H. Marketing Applications Review

9th - 12th Grade

20 Qs

quiz-placeholder

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2.04_EC72 H. Marketing Applications Review

2.04_EC72 H. Marketing Applications Review

Assessment

Quiz

Other

9th - 12th Grade

Medium

Created by

belinda p

Used 8+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The basis of a market economy is

private enterprise.

democracy.

the two-party system.

the dollar.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The role of government in a market economy is to

increase personal incomes.

provide as much regulation as possible.

spend the money it receives in tax revenue.

generate sales.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The circular flow of income model is a simplified depiction of

the government taxing businesses and individuals.

businesses paying dividends to shareholders.

investors earning and losing money in the stock market.

money flowing through a market economy.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a “leakage” in the circular flow of income model:

A business buying goods from another business

A business retaining earnings to pay off debt

An individual buying retail goods from a business

A business paying its employees’ salaries

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the United States, payroll taxes are used as

salaries for Congress members.

interest on the debt.

trust funds.

general funds.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of an expenditure for which a state/local government uses tax revenue:

Church services

Education

National defense

Personal loans

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When tax revenue is not enough to cover government expenditures, the government must

file for bankruptcy.

print more currency.

reduce defense spending.

borrow funds.

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