Econ: Ch. 7 and 8

Econ: Ch. 7 and 8

12th Grade

27 Qs

quiz-placeholder

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Econ: Ch. 7 and 8

Econ: Ch. 7 and 8

Assessment

Quiz

Social Studies

12th Grade

Medium

Created by

John Heavin

Used 2+ times

FREE Resource

27 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Market structure in which only a few large sellers dominate and have the ability to affect prices in an industry.

Oligopoly

Monopoly

Trust

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Market structure characterized by a single producer in a market.

Oligopoly

Monopoly

Trust

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economic products that are paid for and consumed collectively, such as highways, national defense, police and fire protection.

Private Goods

Market Goods

Public Goods

Investments

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economic side effects upon an uninvolved third party.

Private Goods

Public Goods

Utilities Failure

Externalities

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A woman borrows money from a bank to purchase a house. She promises to give the bank the house if she cannot repay the loan. The loan for the house is a type of _________________ .

foreclosure

mortgage

trust

cease and desist order

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

We say the United States has a modified free enterprise economy because almost everything we produce or purchase is in some way affected by _________________.

business

money

government

inventors

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A philosophy that government should not interfere with business activity.

Laissez-faire

Communism

Socialism

Economies of Scale

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