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Test your basic knowledge |
CSET Economics
Start Test
Study First
Subjects
:
cset
,
economics
Instructions:
Answer 30 questions in 15 minutes.
If you are not ready to take this test, you can
study here
.
Match each statement with the correct term.
Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.
This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. Is a theory that bases taxation in accordance with the benefits received by the taxpayer; hunting & fishing fees are examples.
The basis of economics is that society must make choices
Benefits Received
The underdeveloped
Restricted growth is the result of a combination of many factors.
2. Has created problems in providing essential public services such as police and fire protection and sewage disposal.
Educational & religious institutions
The US economy
Urbanization
There are 4 basic universals of economics that are present in all types of economic organizations
3. Provide a method to analyze the goods & services in a society.
Political institutions
The major types of gov. activities
The underdeveloped
In our modern society -
4. Has to do with its ability to command goods & services. Measuring changes in the value of the dollar is a key economic concept.
Industrialization
The underdeveloped
The purchasing power of the dollar
Restricted growth is the result of a combination of many factors.
5. Of government activity comes from its spending - taxing - and public debt policies.
Capitalism
Two - thirds
The basis of economics is that society must make choices
The major economic impact
6. Is the monetary return or other material benefits from currently produced goods & services.
Two - thirds
Ability to Pay and Benefits Received
Production
Economy
7. Areas of the world have shown limited economic growth.
The Role of Government in the US Economy
Ability to Pay and Benefits Received
Private ownership
The underdeveloped
8. Consumption: characterized by freedom of consumer choice. Production: characterized by freedom of enterprise. Financial: composed of all banking & financial institutions. Government: performs task of stabilizing the economy through monetary & fiscal
The Role of Government in the US Economy
Ability to Pay
Modern capitalism can be divided into basic sectors.
There are 4 basic universals of economics that are present in all types of economic organizations
9. In the economy include direct controls over the economy - ownership of production (for example - Hoover Dam) - and welfare expenditures.
The major types of gov. activities
Wealth
Private ownership
The purchasing power of the dollar
10. Provides a means of analyzing the economy.
Measuring economic variables
Two - thirds
The US economy
All civilized societies
11. Since ther are not enough resources to satisfy all wants - there is a conflict between unlimited wants & limited resources. Societal choice: what to produce - how to produce - & for whom to produce.
Industrialization
In our modern society -
The basis of economics is that society must make choices
Foreign policy
12. People have simply demanded more of government.
In our modern society -
The institution of the family
Measuring economic variables
The basis of economics is that society must make choices
13. Of the world's population is economically deprived.
Two - thirds
Ability to Pay
Wealth
In our modern society -
14. The quality of land - labor - & capital are key factors that determine economic growth. Less - developed countries usually have high population densities. Low incomes retard economies by restricting the opportunity to consume goods.
The various types of taxes include
Restricted growth is the result of a combination of many factors.
Modern capitalism can be divided into basic sectors.
The basis of economics is that society must make choices
15. Is a theory that bases taxation in accordance with income and wealth position.
Foreign policy
Ability to Pay
Production
Urbanization
16. How to allocate resources among competing & alternative uses. How to distribute goods & services among the population. How to provide economic stability & security. How to provide continued economic growth.
The underdeveloped
Measuring economic variables
Ability to Pay
There are 4 basic universals of economics that are present in all types of economic organizations
17. And influence in our economy has steadily grown throughout history.
Private ownership
The degree of gov. control
Political institutions
Restricted growth is the result of a combination of many factors.
18. Transmit the ideals & values of society.
Private ownership
The US economy
Educational & religious institutions
Benefits Received
19. Is a measurement of assets on hand at a given point in time.
Foreign policy
Wealth
Two - thirds
Capitalism
20. Fulfills primary & basic needs.
Industrialization
The Role of Government in the US Economy
The basis of economics is that society must make choices
The institution of the family
21. A competitive - free - market - free - price system is necessary for capitalism to function efficiently.
The basis of economics is that society must make choices
Ability to Pay
Capitalism
Economy
22. Of property is fundamental to a capitalistic society.
Measuring economic variables
Private ownership
Industrialization
The degree of gov. control
23. Has created problems in labor - management relations that government seems to be able to handle best.
Industrialization
Two - thirds
Economy
The basis of economics is that society must make choices
24. Are the cornerstone of the US tax system.
The institution of the family
The Role of Government in the US Economy
Ability to Pay and Benefits Received
Wealth
25. Direct - indirect - proportional - progressive - and regressive. Federal personal & corporate taxes are progressive. Most state and local taxes are proportional. Nearly all excise - sales - and property taxes are regressive.
Political institutions
The various types of taxes include
Modern capitalism can be divided into basic sectors.
The degree of gov. control
26. Organized to fulfill basic social needs
Measuring economic variables
Production
All civilized societies
The institution of the family
27. Commitments & military expenditures have had lasting effects on the role of government in the economy.
The basis of economics is that society must make choices
Urbanization
Capitalism
Foreign policy
28. Based on concepts of modern capitalism.
The US economy
Modern capitalism can be divided into basic sectors.
There are 4 basic universals of economics that are present in all types of economic organizations
The major types of gov. activities
29. Is a source wealth & income & involves the inflow & outflow of goods and services. The economic growth of the US is measured by the Gross National Product (GNP) - which is the value of all goods & services produced in a particular year.
Benefits Received
Industrialization
Capitalism
Production
30. ...see following cards.
The Role of Government in the US Economy
All civilized societies
The basis of economics is that society must make choices
Wealth