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Market Economy
Market Economy
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A Economy quiz on the #market #economy and the governments roles, and laws and regulations.
Flashcards
20 cards
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Questions
20
Answers
1
A Tariff is a tax on goods/prioduct from other countries.
True
False
2
When one company controls an entire industry without competition it is called a Monopoly.
False
True
3
An economy is
people getting along with each other.
the way goods and services are produced and consumed.
only about producing money.
4
The Sherman Act prevents businesses from...
denying other companies to sell/make the same product
making too much money
denying the public their product
5
When there is LITTLE supply and HIGH demand prices go...
DOWN
UP
6
Scarcity is...
having an abundant amount of resources
Having a limited amount of resources
Someone who is very scary
7
An economy with no government regulation is...
A free economy
A lost economy
A mixed economy
8
In the U.S.A. the government allows monopolies to be formed.
True
False
9
If I buy something from the store I am...
A consumer
A producer
A seller
10
Public goods are...
things and services that the government provides
free money to the public
property of the public
11
We can avoid the economy!
False
True
12
Which government agency was created to stop companies from competing unfairly?
Equal Business Association
Federal Trade Commission
Free Trade Committee
13
The U.S has a fixed Economy.
True
False
14
A command economy is when the government...
lets business make their own rules.
owns and offers all the goods and services
commands you to give them money
15
In a fixed economy who can interfere with businesses?
The citizens
The government
The Boss
16
Why is having an economy important?
so we can make money to buy products
so we can buy products that we cannot produce here
it creates jobs
so we can be wealthy!
17
What is an example of Public goods?
Cell Phones
Electricity
Fast Food
Public transportation
18
The Clayton Anti-trust act gives the government the power to...
prevents new businesses from opening
prevent companies from merging together.
Close business down
19
A market economy is where most goods and services are provided.
False
True
20
When there is A LOT of supplies and LITTLE demand prices go...
UP
DOWN
