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.mixedcommandtraditionalmarket30s
- Q2Most countries of the world have a [BLANK] economy.mixedmarketcommandtraditional30s
- Q3In a [BLANK] economy government leaders control the factors of production.commandmixedmarkettraditional30s
- Q4A [BLANK] economy is also called capitalism.traditionalmarketcommand30s
- Q5The money left over after all costs of production have been paid is called [BLANK].profitcompetitionlaissez-fairprofit incentive30s
- Q6The rivalry among producers of similar products is called [BLANK].competitionprivate propertyprofit incentiveprofit30s
- Q7Another name for [BLANK] is called motive.free enterpriseprofit incentivecompetitionprivate property30s
- Q8One of the most important characteristics of capitalism is the existence of [BLANK].competitionprofit incentiveprofitprivate property30s
- Q9[BLANK] emphasizes that individuals are able to control the factors of production.private propertycompetitionprofit incentivefree enterprise30s
- Q10Pure capitalism has also been called [BLANK].profit incentivecompetitionprivate propertylaissez-faire30s
- Q11[BLANK] is the amount of money you actually borrowedinterestprimeprincipalincome tax30s
- Q12Which of the following is not a type of financial institution [BLANK]savings and loanscredit unioncommercial bankpeople's bank30s
- Q13Collateral, credit history, character, and capacity to pay are used to determine [BLANK]credit markingscredit workingnesscredit checkcredit worthiness30s
- Q14Types of loans that are issued on a “promise to pay” are called [BLANK] loans.securedredunsecuredpinky-sweared30s
- Q15As a borrow you are responsible for [BLANK]keeping recordsdetermining interest ratesasking nicelymaking creditors like you30s