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ECONOMICS UNIT 4 PT 1 TEST

Authored by Bill Sweeney

Social Studies

10th Grade

Used 11+ times

ECONOMICS UNIT 4 PT 1 TEST
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

THE UNITED STATES MODIFIED FREE ENTERPRISE ECONOMIC SYSTEM IS A TYPE OF__________

Mixed economy

Multi-layered economy

Democratic socialist economy

Communism

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

THE GOVERNMENT IS BOTH A CONSUMER & PRODUCER IN THE UNITED STATES ECONOMY.

true

false

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

GOODS & SERVICES THAT ARE PRODUCED BY THE GOVERNMENT & CONSUMED BY THE PUBLIC AS A GROUP ARE KNOWN AS _________

PUBLIC GOODS

PRIVATE GOODS

SAFETY NET

ENTITLEMENTS

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

THE MAJOR JUSTIFICATION FOR GOVERNMENT INTERVENTION IN THE UNITED STATES ECONOMIC SYSTEM ARE _____________

MARKET FAILURES

CRADLE TO GRAVE BENEFITS

THE NANNY STATE

WELFARE

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

WHICH OF THE FOLLOWING IS NOT AN EXAMPLE OF A MARKET FAILURE?

SECOND HAND SMOKE

ROTTEN EGGS FOR SALE

POLLUTION IN THE GREAT LAKES

GOING FOR A WALK IN THE WOODS

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

PUBLIC GOODS CAN BE EXCLUDED FROM THOSE THAT DO NOT PAY FOR THEM.

TRUE

FALSE

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

SIDE EFFECT OF A TRANSACTION THAT AFFECTS SOMEONE OTHER THAN THE PRODUCER OR CONSUMER BADLY

Positive externality

Adverse effect
Negative externality
Harmful consequence

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