QoD Archive                                  

Quiz of the Day

1.

CE.12a  A/an ___________________________ is anyone who takes a risk to produce goods and services in search of a profit and may establish a business according to any of the three types of business organizations.

A) proprietor
B) entrepreneur
C) businessman
D) risk-taker

2.

CE.6a  Which level of government prepares the biennial budget?

A) National
B) State
C) Local
D) Community

3.

CE.12b  Name the three major players in the US market per economic / circular flow (hint: one of these pays taxes to another, etc.)

 

 

4.

CE.11b  In this economic system people often perform the same type of work as their parents and grandparents.

A) Free Market Economy
B) Command Economy
C) Traditional Economy
D) Mixed Economy

 

5.

CE.12a Cindy and two of her friends opened a new apparel store.  All three split the risk of running the business and receive 1/3 of the profits.  What type of business organization is Cindy and her amiga’s apparel store?

A) partnership
B) corporation
C) proprietorship
D) sole partnership

 

6.

  • Central ownership of property and resources
  • Centrally-planned economy
  • Lack of consumer choice

CE.11b  The characteristics listed above best describes which of the following economic systems?

A) Free Market Economy
B) Traditional Economy
C) Mixed Economy
D) Command Economy

 

7.

CE.11b  Which of the following categories would best replace the "?" in the graphic organizer?

A) Laws of Supply and Demand
B) Basic Questions of Production
C) Laws of Economics
D) Basic Questions of Economics

 8.

CE.12b  The government uses tax revenues to provide _______________.

A) resources
B) banks
C) credit unions
D) public goods and services

9.

CE.6d  What is the function of the executive branch?

A) To make laws
B) To interpret laws
C) To carry out laws
D) To create laws


10.

CE.12d 5 points (up to a max of 20) for every advantage, disadvantage, idea, etc. related to a bank or credit union.

 


 

 

Bonus

CE.2d  Which document defines the process by which formal changes can be made to the United States government?

A) Articles of Confederation
B) Declaration of Independence
C) U.S. Constitution