Unit 2 - Economic Concepts Final Assessment Review

Unit 2 - Economic Concepts Final Assessment Review

9th - 12th Grade

10 Qs

quiz-placeholder

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Unit 2 - Economic Concepts Final Assessment Review

Unit 2 - Economic Concepts Final Assessment Review

Assessment

Quiz

Business

9th - 12th Grade

Hard

Created by

Lindsey Bradshaw

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following types of utility enhances value by creating more useful or desirable products out of raw materials or separate parts?

possession

time

form

information

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT one of the basic economic questions listed in the presentation?

What goods and services do we produce?

How do we produce those goods and services?

When will we produce those goods and services?

Who should benefit from the goods and services produced?

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When companies are understaffed, employees can become overworked, cause a hostile work environment, and increase the time of production.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An economic system in which there is increased government involvement where the goal is to keep prices low and provide jobs for everyone is known as which of the following?

capitalism

socialism

communism

free enterprise

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Unprofitable firms negatively affect the economy by increasing the job market and increasing salaries and benefits.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When describing supply and demand, which of the following defines when a product is demanded in larger quantities than is produced?

surplus

equilibrium

demand

shortage

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Protection for business, individuals and resources are NOT provided by which of the following types of government departmental regulation?

FDA

OSHA

EEOC

NHAC

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