Economics Final Practice Questions by Unit (Full Set)

Which enterprise is NOT an example of a market?

• a neighborhood lemonade stand

• New York Stock Exchange

• ticket scalping

• painting one's own house

A question whose answer is based on societal beliefs is a _____ question.

• objective

• positive

• normative

• fact-based

• $4

• $15

• $21

• $11

• price elastic.

• price inelastic.

• stop production immediately.

• increase production.

• decrease production.

• hold production constant.

Which enterprise is NOT an example of a market?

• a neighborhood lemonade stand

• New York Stock Exchange

• ticket scalping

• painting one's own house

A question whose answer is based on societal beliefs is a _____ question.

• objective

• positive

• normative

• fact-based

• $4

• $15

• price elastic.

• price inelastic.

• unitary elastic.

• perfectly elastic.

• stop production immediately.

• increase production.

• decrease production.

• hold production constant.