Quiz
Chapter 1
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Fragen in diesem Quiz (16)
1What is the fundamental economic problem in any society?
[blank_start]Scarcity[blank_end]- AScarcity
2Identify factors of production
- ALabor
- BEntrepreneurs
- CLand
- DCapital
- EUtility
- FFood
3What does the acronym GDP stand for?
[blank_start]Gross Domestic Product[blank_end]- AGross Domestic Product
4Explain the Difference between needs and wants.
[blank_start]need[blank_end] is what is necessary for living.
[blank_start]Want[blank_end] is a way to express the need.- AWant
- Bneed
5GDP measures the amount of goods and services in a country, and it is sometimes divided by the population to see individuals goods within a year.
- ARichtig
- BFalsch
6What is opportunity cost?
What [blank_start]value[blank_end] you [blank_start]lose[blank_end] when you choose to perform the [blank_start]alternative[blank_end].- Avalue
- Blose
- Calternative
7What does the acronym TINSTAFFL stand for?
[blank_start]There is no such thing as a free lunch[blank_end]- AThere is no such thing as a free lunch
8What government agency issues currency, overseas the money supply and regulates interest rates?
- AFederal reserves
- BNational Bank
9Who is the chairman of the Federal Reserve?
- APete Aguilar
- BJanet Yellen
- CJeon Jungkook
10Who is the Secretary of the treasury?
- AJacob Lew
- BJanet Yellen
- CPark Jimin
11What does it mean for a company to go public?
Everyone can [blank_start]buy/sell stocks[blank_end] of the company.- Abuy/sell stocks
12What company owns Youtube?
- AGoogle
- BYoutube
- CYG Entertainment
131.Wealth, whether physical or financial, invested to create more wealth.
[blank_start]Capital[blank_end]
2.A network in which buyers and sellers interact to exchange goods and services for money.
[blank_start]Market[blank_end]
3.Coins and banknotes issued by a government.
[blank_start]Currency[blank_end]- ACapital
- BMarket
- CCurrency
144. A Stock exchange that lists many major industrial stocks
[blank_start]Dow Jones Average[blank_end]
5. A person who buys economic goods and services
[blank_start]Consumer[blank_end]
6. The performance of any duties or work for another; helpful or professional activity.
[blank_start]Services[blank_end]- ADow Jones Average
- BConsumer
- CServices
157. The controlling financial interests of the United States. Physically, it is located in New York City. This term is also used to refer to the financial industry of the U.S.
[blank_start]Wall Street[blank_end]
8. The Amount of money one ears. This can be through one's job or through investments.
[blank_start]Income[blank_end]
9. Increase in the overall level of prices over an extended period of time.
[blank_start]Inflation[blank_end]- AInflation
- BIncome
- CWall Street
1610. Anything that anyone needs or wants to obtain
[blank_start]Goods[blank_end]
11. Alternative choices when making an economic decision.
[blank_start]Trade-offs[blank_end]
12. When a business chooses to invest in projects that make the mos profit and governments evaluate the effectiveness of a service (how much bang for the buck) they are making a _.
[blank_start]Cost-benefit Analysis[blank_end]- AGoods
- BTrade-offs
- CCost-benefit Analysis
Informationen
- Beschreibung
- Final Government and Economics Quiz am Chapter 1, erstellt von Niki Binondo am 03/02/2016.
- Autor
- Niki Binondo
- Sprache
- English
- Aufrufe
- 32
- Schlagwörter
- Bewertung
- Noch keine Bewertungen Bewerte dieses Quiz