Econ Review

Quiz
•
Social Studies
•
10th Grade
•
Medium
Standards-aligned
Jasmine Franklin
Used 19+ times
FREE Resource
30 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
incentive to work, save, and invest are all characteristics of what economic system
socialism
communism
authoritarianism
free enterprise system
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
lower prices for products is a result of competition in a ---
democracy
communism
free enterprise system
socialism
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
paying rent instead of purchasing tickets to a concert is an example of--
scarcity
property rights
opportunity cost
capitalism
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a basic characteristic of all economic systems?
price controls
wage incentives
small business owners
distribution of goods an services
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
No special taxes, unlimited liability, easy to manage, complete ownership, easy to start up, difficult to raise capital ---
Characteristics of Partnership
Characteristics of Free Enterprise
Characteristics of Sole Proprietorship
Characteristics of Corporation
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a benefit of the US free enterprise system
equal distribution of goods and services
amount of choices for consumers
lack of union participation by workers
guaranteed returns on investments
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Markets that respond to consumer demand is a characteristic of what economic system?
US Free Enterprise
Socialism
Communism
Marketism
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