Economics Final Examination - Part 3. Fill in the Blank
Quiz by Mika'il Stewart Saadiq
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20 questions
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- Q1Economic decisions are based on customs and beliefs in a [BLANK] economy.mixedcommandtraditionalmarket30sEditDelete
- Q2Most countries of the world have a [BLANK] economy.mixedmarketcommandtraditional30sEditDelete
- Q3In a [BLANK] economy government leaders control the factors of production.commandmixedmarkettraditional30sEditDelete
- Q4A [BLANK] economy is also called capitalism.traditionalmarketcommand30sEditDelete
- Q5The money left over after all costs of production have been paid is called [BLANK].profitcompetitionlaissez-fairprofit incentive30sEditDelete
- Q6The rivalry among producers of similar products is called [BLANK].competitionprivate propertyprofit incentiveprofit30sEditDelete
- Q7Another name for [BLANK] is called motive.free enterpriseprofit incentivecompetitionprivate property30sEditDelete
- Q8One of the most important characteristics of capitalism is the existence of [BLANK].competitionprofit incentiveprofitprivate property30sEditDelete
- Q9[BLANK] emphasizes that individuals are able to control the factors of production.private propertycompetitionprofit incentivefree enterprise30sEditDelete
- Q10Pure capitalism has also been called [BLANK].profit incentivecompetitionprivate propertylaissez-faire30sEditDelete
- Q11[BLANK] is the amount of money you actually borrowedinterestprimeprincipalincome tax30sEditDelete
- Q12Which of the following is not a type of financial institution [BLANK]savings and loanscredit unioncommercial bankpeople's bank30sEditDelete
- Q13Collateral, credit history, character, and capacity to pay are used to determine [BLANK]credit markingscredit workingnesscredit checkcredit worthiness30sEditDelete
- Q14Types of loans that are issued on a “promise to pay” are called [BLANK] loans.securedredunsecuredpinky-sweared30sEditDelete
- Q15As a borrow you are responsible for [BLANK]keeping recordsdetermining interest ratesasking nicelymaking creditors like you30sEditDelete
- Q16The consumer decision that is based on opportunity cost is [BLANK]rational choicerational businessmore bang for your buckgood business30sEditDelete
- Q17All advertising falls under [BLANK].lame or litgood or badinformative or persuasiverational or irrational30sEditDelete
- Q18The movement to educate buyers on the purchases they make is called [BLANK]as seen on tvethical economicsrealismconsumerism30sEditDelete
- Q19The two types of income are [BLANK].red and blackpaid and fullloaned and borroweddisposable and discretionary30sEditDelete
- Q20Respecting the rights of producers and sellers is called [BLANK]ethical behaviormutualismethical borrowingethical economics30sEditDelete