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Mason Economics and Government
Mason Economics and Government
30 terms
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Review for Economics and Government CA
Flashcards
30 cards
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Practice quiz
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Questions
30
Answers
1
Primary Sources are reliable sources of information
True
False
2
Comparison shopping is evaluating price and quality of an item before buying it
False
True
3
Final price in a market is determined by
the government
producers
consumers
both producers and consumers
4
It is not possible to be economically independent because
None of these answers
natural resources are not evenly distributed
One economy cannot produce everything that is needed
Both of these answers
5
The desire and capability of sellers to make things for purchase is called
Demand
Supply
6
In a market, the supply of products is affected by
the government
consumers
producers
both producers and consumers
7
Textbooks, web pages and newspaper articles are
None of these
one step removed from the event
Both of these
interpretations, of primary sources
8
The Law of Demand is as the price of a good or service goes up
demand goes down
demand stays the same
demand goes up
None of these
9
Artifacts, eyewitness reports and official records are
Primary sources and are reliable
Secondary and reliable
Can be an interpretation
Summaries of information
10
The form of government in which power is obtained through election by the people is
Monarchy
Theocracy
Dictatorship
Democracy
11
George Washington was elected President of America in 1800 is
A fact
An opinion
12
The form of government that has a king or queen who rules with or without other government officials
Theocracy
Dictatorship
Monarchy
Democracy
13
A source is credible when
It is written by an authority on the subject
It can be verified
It proves to be true when checked out
All of these
14
A bias is a prejudice that a person may have
False
True
15
A Surplus is an excess of production or supply
True
False
16
The form of government that is lead by a religious leader with or without other government officials
Theocracy
Dictatorship
Democracy
Monarchy
17
A fact and an opinion are the same thing
False
True
18
To me, Jet's is the best pizza in Mason
Opinion
Not reliable
Fact
an opinion and not reliable
19
Scarcity is when something needed is not available in sufficient amounts
True
False
20
The desire and capability to purchase things is
Supply
Demand
21
Economic interdependence means
Nothing. It is a made-up word
Depending on others to meet needed resources or products
Not possible in the real world
Depending on only your economy to meet needs
22
As the price goes down, the demand will
both of these
none of these
stay the same
will rise
23
As the price of a good or service increases, supply increases
False
True
24
Opinions use words like
in my view
I think
I believe
All of these
25
A statement of fact can be checked for accuracy
True
False
26
The form of government which is ruled by one person and isn't concerned with the people is
Theocracy
Democracy
Dictatorship
Monarchy
27
Financial literacy is
skills that allow people to spend money
skills that allow people to make informed decisions when making a purchase
28
Peppermint stick ice cream is the best flavor is a fact
True
False
29
The standard of something measured against things of a similar kind is
quality
an opinion
rip off
price
30
Demand is affected by
consumers
producers
both producers and consumers
the government
