Chapter 17 Test Guide

Which of the following is an example of a natural resource

• Fabric

• Plastic

• Water

• Concrete

Human effort, skills, and abilities used to produce goods and services is

• Capital

• Entrepreneur

• Dividend

• Labor

What is the name of the government that helps small businesses

• 1. Big business administration

• 1. Loan business administration

• 1. Small business administration

• Empty business administration

Which is an example of a nonprofit organization?

• Walmart

• Goodwill

• Girl Scout

• Thrift store

What does each share of stock represent?

• Partnerships

• Ownership

• Annual Revenue

• Number of employees

What is the driving force behind the American Economy?

• 1. Foreign investments

• 1. Labor unions

• Government subsidies

• 1. Capitalism

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

• Entrepreneurship

• Profit

• Labor

• Capital

What is the market economy based on?

• Ownership

• Freedom

• Capitalism

• Commands

What is the best definition of a mixed economy?

• the least popular type of economic system

• an economy that has all three of the other economic systems present

• an economic system that has elements of traditional, command, and/or market economies

• none of the above

Which factor of production refers to the natural resources used in production?

• Land

• Capital

• Labor

• Entrepreneurship