Economics and Personal Finance Exam One
Authored by Charlene Youell
Business
10th Grade
Used 11+ times
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50 questions
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1.
MULTIPLE CHOICE QUESTION
15 mins • 2 pts
The value of your next best alternative whenever you make a choice is called
competition
opportunity cost
value
decision
2.
MULTIPLE CHOICE QUESTION
15 mins • 2 pts
An economy in which the government tells you what to produce is a
traditional economy
command economy
mark economy
mixed economy
3.
MULTIPLE CHOICE QUESTION
15 mins • 2 pts
Things that are not necessary for survival, but add comfort to your life is
needs
opportunity
alternative
wants
4.
MULTIPLE CHOICE QUESTION
15 mins • 2 pts
The contest among sellers to win customers is
happiness
goals
competition
value
5.
MULTIPLE CHOICE QUESTION
15 mins • 2 pts
A mixed economy is a mixture of a market economy with some aspects of a
capitalist economy
traditional economy
command economy
none of these
6.
MULTIPLE CHOICE QUESTION
15 mins • 2 pts
A purchase made on a whim without using a decision make process is a(n)
trade-off purchase
impulse purchase
option purchase
rational purchase
7.
MULTIPLE CHOICE QUESTION
15 mins • 2 pts
Tribes in remote areas still live in a
traditional economy
mixed-economy
command economy
market economy
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