F23 - Economic Systems

F23 - Economic Systems

10th Grade

30 Qs

quiz-placeholder

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F23 - Economic Systems

F23 - Economic Systems

Assessment

Quiz

Business

10th Grade

Medium

Created by

Dean Kuckelman

Used 11+ times

FREE Resource

30 questions

Show all answers

1.

MATCH QUESTION

1 min • 1 pt

Match the term with its description:

Expenses

Costs for rent, salaries, supplies, transportation

Revenues

Tangible items manufactured by businesses

Services

Money a business receives by providing services or selling goods to customers

Goods

If revenue is greater than expenses

Profit

Intangible offerings of businesses that can’t be held, touched, or stored.

2.

MATCH QUESTION

1 min • 1 pt

Match the term with its description:

Political Forces

Tarrifs, taxes, subsidies

Demographic factors

Unemployment rates, consumers' disposable income, and interest rates.

Natural Forces

The characteristics of a population that influence what goods or services are likely to do well with that group of potential customers.

Economic Conditions

Physical conditions in the environment that can impact businesses

3.

MATCH QUESTION

1 min • 1 pt

Match the following

Technological forces

Cameras are becoming less common household items, for example

Wants

Money that consumers have left over for wants after paying for all their needs.

Needs

Belief systems and practices, customs, traditions and behaviors of potential customers

Discretionary income

Things that we might buy with discretionary income

Socio-cultural forces

Things that are necessary to survive, like housing and food

4.

MATCH QUESTION

1 min • 1 pt

Match the term with its description:

Government decisions

____ are the main control over supply and demand in a centralized economy

Price Signals

____ can reduce the amount of money that consumers have available to spend

Subsidies

Tax imposed by one country on the goods and services imported from another country.

Taxes

____ are the main control over supply and demand in a free market economy

Tarrif

_____ benefits provided by the government to producers, usually in the form of tax pardons or cash payments

5.

MATCH QUESTION

1 min • 1 pt

Match the term with its description:

Interest

Prices that people pay for goods and services

Cost of Living

The amount of goods and services people can buy with the money they have.

Household Income

The price that you pay for borrowing money

CPI

Measure of the average change over time in the prices paid by

Standard of living

The average income earned per family.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these is NOT included in measuring the quality of life:

life expectancy

educational standards

health and sanitation

leisure time

consumer price index (CPI)

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these is NOT one of the four traditional factors of production that are common to all productive activity:

natural resources

labor

capital

entrepreneurship

tarrifs

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