9c US Economy Trivia

Newell

In the United States, individuals and businesses have all of the following rights EXCEPT -A own personal property without undue influence from the governmentB to act without any government regulationC makes profits on business investmentsD determine which goods and services can be produced

In the United States economy, who decides what goods and services will be produced?A ConsumersB Small businessesC PresidentD Federal Reserve

According to economists, what is the likely result of competition on the price and quality of goods that the consumer purchases?A Price will decrease; quality will decrease.B Price will increase; quality will increase.C Price will decrease; quality will increase.D Price will increase; quality will decrease.

Property owned by an individual or business is called -A private propertyB public propertyC community propertyD government property

The term for earnings left after all expenses have been paid isA profitB incentivesC debtD income

Rivalry between two companies who produce similar products is called -A incomesB competitionC debtsD commissions

Which of the following countries primarily uses a free market system?A CubaB ChinaC IraqD United States

How do consumers choose which goods and services will be produced?A Sense of fairnessB Long-term planningC Through purchasesD Historical conflicts

In the American economy buyers determine what is made by the purchases they make. This is known as -A incentivesB opportunity costC consumer sovereigntyD capital resources

How do consumers choose which goods and services will be produced?A Sense of fairnessB Long-term planningC Through purchasesD Historical conflicts

A business' profit is its -A price per share of stockB earnings minus expensesC net worth minus earningsD investment divided income