Econ Quiz week one review

Question 1

Charging an unreasonably high price for an essential good is known as what?

Accepted Answer

Price gouging

Question 2

Which of these famous athletes has an economics degree

Accepted Answer

Tiger Woods

Question 3

Socialism is an example of a mixed economy.

Accepted Answer

True

Question 4

An item that fulfills a need is said to have what?

Accepted Answer

Utility

Question 5

Communism is an example of a command economy

Accepted Answer

True

Question 6

What time does cross country start running in the morning?

Accepted Answer

5:30 AM

Question 7

What is the idea that the government should increase spending or hand out money to citizens to boost the economy?

Accepted Answer

Keynesianism

Question 8

Who wrote the communist manifesto?

Accepted Answer

Carl Marx

Question 9

How much did Scarlet Johansen sue Disney for last week?

Accepted Answer

$50 million

Question 10

Capitalism is an example of a market economy.

Accepted Answer

True

Question 11

When did spongebob squarepants first appear on tv?

Accepted Answer

1999

Question 12

An item that is limited in supply is said to be what?

Accepted Answer

scarce

Question 13

Which of these celebrities DOES NOT have a makeup brand?

Accepted Answer

Ariana Grande

Question 14

What is a cheugy?

Accepted Answer

An old person who tries too hard

Questions 14