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Economics Final Examination - Part 3. Fill in the Blank

Quiz by Mika'il Stewart Saadiq

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20 questions
Show answers
  • Q1
    Economic decisions are based on customs and beliefs in a [BLANK] economy.
    mixed
    command
    traditional
    market
    30s
  • Q2
    Most countries of the world have a [BLANK] economy.
    mixed
    market
    command
    traditional
    30s
  • Q3
    In a [BLANK] economy government leaders control the factors of production.
    command
    mixed
    market
    traditional
    30s
  • Q4
    A [BLANK] economy is also called capitalism.
    traditional
    market
    command
    30s
  • Q5
    The money left over after all costs of production have been paid is called [BLANK].
    profit
    competition
    laissez-fair
    profit incentive
    30s
  • Q6
    The rivalry among producers of similar products is called [BLANK].
    competition
    private property
    profit incentive
    profit
    30s
  • Q7
    Another name for [BLANK] is called motive.
    free enterprise
    profit incentive
    competition
    private property
    30s
  • Q8
    One of the most important characteristics of capitalism is the existence of [BLANK].
    competition
    profit incentive
    profit
    private property
    30s
  • Q9
    [BLANK] emphasizes that individuals are able to control the factors of production.
    private property
    competition
    profit incentive
    free enterprise
    30s
  • Q10
    Pure capitalism has also been called [BLANK].
    profit incentive
    competition
    private property
    laissez-faire
    30s
  • Q11
    [BLANK] is the amount of money you actually borrowed
    interest
    prime
    principal
    income tax
    30s
  • Q12
    Which of the following is not a type of financial institution [BLANK]
    savings and loans
    credit union
    commercial bank
    people's bank
    30s
  • Q13
    Collateral, credit history, character, and capacity to pay are used to determine [BLANK]
    credit markings
    credit workingness
    credit check
    credit worthiness
    30s
  • Q14
    Types of loans that are issued on a “promise to pay” are called [BLANK] loans.
    secured
    red
    unsecured
    pinky-sweared
    30s
  • Q15
    As a borrow you are responsible for [BLANK]
    keeping records
    determining interest rates
    asking nicely
    making creditors like you
    30s

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