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CE.12 SOL Flashcards | StudBud
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CE.12 SOL
CE.12 SOL
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Questions
30
Answers
1
What is an example of a proprietorship?
Edward opens his own pizza restaurant
Robert owns stock in Apple
Joey and Philip own a bookstore together
Jane and Marry open their own flower shop
2
Which term best explains the economic flow of the United States?
Periodic
Triangular
Circular
Square
3
An economy in which the government(central ownership) makes all the decisions.
Traditional
Command
Free Market
Mixed
4
Who loans money from the bank?
Borrowers
Employers
Savers
Producers
5
The buying and selling of goods and services by all nations is called...
NAFTA
Globalization
Interdependence
Megatroplis
6
What is one way to lower the cost of production?
Create new technologies
Offer discount prices
Hire additional workers
Use more resources
7
Private financial institutions act as intermediaries between who?
Producers and Customers
Savers and Borrowers
Individuals and Government
Household and Business
8
What do financial institutions do with your deposits?
Put it in their vault
Place it in a safe for safe keeping
Make loans
Spend it
9
If Adam puts $500 in a savings and after a month the banks pays him $5, this is known as?
Debit from Grocery store
Interest
Maintenance fee
Retirement Contribution
10
Business that is authorized by law to act as a legal person regardless of the number of owners?
Partnership
Corporation
Enterprise
Proprietorship
11
In the United States, what does the government collect from households and business?
Interest
Resources
Taxes
Goods
12
A person who opens their own business and takes all the risk are known as a....
Share Holder
Government Worker
Entrepreneur
Partner
13
A combination of all resources to provide goods and services is known as...
Production
Incentives
Taxes
Supply and Demand
14
Who purchases goods and services from the product market?
Business
Households
Military
Government
15
What type of financial institution was created for members and is non-profit?
Credit Union
Savings and Loan
Investment Bank
Bank
16
Who owns all the resources then sells them?
Business
Military
Government
Households
17
A business in which there are two or more owners, is know as a....
Enterprise
Partnership
Proprietorship
Corporation
18
Which one of the following actions would a bank do to attract customers?
Increase the interest on savings accounts
Decrease the interest rate
Increase the interest rate on loans
Lower the reserve requirment
19
In a proprietorship the profits are kept by...
two people
one person
a group of people
the government
20
Some of the profits made by a business are often used to buy more...
Resources
Taxes
Goods and Service
Interest
21
Which of the follow is NOT a financial institution?
Realty Company
Bank
Credit Union
Savings & Loan
22
Which financial institution can you make deposits, get loans, and get paid interest on savings?
Credit Union
Savings & Loan
Investment Bank
Bank
23
What has had the biggest impact of the global flow of information?
Internet
Postal Service
Railway
Truck Shipping
24
Virginia and the United States seek out international trade to -
Become more powerful
Gather knowledge
Increase opportunities to travel
Purchase less expensive goods
25
What do households receive for the labor they provide to business?
Debt
Interest
Taxes
Income
26
Who deposits money into a bank?
Savers
Borrowers
Government
Producers
27
What type of economy does the United States and most countries have today?
Mixed Economy
Command Economy
Free Market
Traditional Economy
28
The inability to satisfy all wants at the same time is known as..
Production
Choice
Scarcity
Opportunity Cost
29
Tax money paid by business and households is used to provide -
Goods and Services
Resources
Profits
Private Savings
30
An economy in which indivudals make all the decisions?
Command
Mixed
Free Market
Traditional
