Economic Principles and Government Roles

Economic Principles and Government Roles

Assessment

Interactive Video

Business

9th - 10th Grade

Hard

Created by

Patricia Brown

FREE Resource

Mr. Burns introduces a homework assignment on the characteristics of the US economy, explaining its structure as a mixed economy with government regulation. He discusses market dynamics, cost-benefit analysis, and government intervention, using the auto industry bailout as an example. Key economic concepts such as profit motive, consumer sovereignty, competition, and private property are covered. The video concludes with a discussion on free enterprise and price determination through supply and demand, and a preview of the next class activity.

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of economy does the US have?

Traditional economy

Mixed economy

Free market economy

Command economy

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a mixed economy, who shares in economic decision-making?

Only businesses

Only individuals

Only the government

Businesses, individuals, and the government

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a key reason for government intervention in the economy?

To ensure businesses do not fail

To increase taxes

To control all economic activities

To eliminate competition

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of government intervention?

Bailout of the automobile industry

Increase in consumer spending

Rise in stock market prices

Decrease in unemployment rate

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What motivates businesses to start and operate?

Profit motive

Market competition

Government regulations

Consumer demand

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How do consumers influence what goods and services are produced?

Through government policies

By voting in elections

Through their purchasing decisions

By setting prices

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does competition among businesses lead to?

Higher prices and lower quality

Lower prices and better quality

Monopolies

Government control

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