Economics Semester Review KS

Gov't sets quotas & prints and distributes posters to inspire workers to increase productivity

In a market economy, what is the government's role?

In which of the following economic systems is the "factors of production" privately owned?

What is the benefit of competition in a free market system?

Which of the following is a characteristic of traditional economies?

In general, what type of economy does the U.S. have?

Why invest in mutual funds instead of a single stock?

In every economic system, what must people choose to do?

Which strategy is most likely to improve a person's financial situation over his/her lifetime?

Which of the following is true of both a traditional economy and a command economy?

Jane won $2000 & plans to use the $ to pay her tuition in 4 months. Why use a savings account?

What is the greatest advantage to diversification in a stock portfolio?

B/c bonds are considered a safe investment, which characteristic would you expect them to have?

What is the primary incentive that motivates a manufacturer to sell a product?

What is the main idea behind the study of economics?

Unlimited Wants + Limited Resources = ???

Which of the following statements will help to maximize your stock investment?

Gov't owns all industries, sets production & wages, and provides all education and medical care

Which of the following is the Rule of 72 intended to approximate?

What is "compounding interest?"

Which of the following will guarantee that a person will make money in the stock market?

In economic terms, what does the statement below mean?

My shoes were designed in U.S. & assembled in Asia. What type of enterprise does this involve?

Customs & religion of previous generations determine how the economy will use scarce resources

Why is investing in a money-market mutual fund a higher risk than investing in a CD?

In economic terms, what is a "stock?"

Which of the following is a result of the specialization of labor?

Which of the following describes what you are doing when you invest in a mutual fund?

What is the most basic economic issue for all societies?

Jenny has enough $ to buy a CD or go to a movie. What is the choice that Jenny "gives up?"

A company decides to install more machines & lay off workers. Which economic "?" is addressed?

In economic terms, what are land, labor, capital and entrepreneurship?

To deal with the problem of scarcity, societies establish which of the following?

How does the process of specialization change an economy?

Which of the following is true of an investment in bonds?

Which of the following is an opportunity cost of building a new public high school?

Which of the following describes a publicly held corporation?

Which type of economy produces the highest standard of living for its citizens?