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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. Fulfills primary & basic needs.
The institution of the family
The Role of Government in the US Economy
Urbanization
In our modern society -
2. Has created problems in providing essential public services such as police and fire protection and sewage disposal.
Urbanization
Wealth
Benefits Received
The purchasing power of the dollar
3. ...see following cards.
Economy
Wealth
The Role of Government in the US Economy
Industrialization
4. Based on concepts of modern capitalism.
Measuring economic variables
In our modern society -
Economy
The US economy
5. Is the monetary return or other material benefits from currently produced goods & services.
The degree of gov. control
The institution of the family
Economy
The basis of economics is that society must make choices
6. 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
Restricted growth is the result of a combination of many factors.
Ability to Pay
Two - thirds
7. Are the cornerstone of the US tax system.
Ability to Pay and Benefits Received
The Role of Government in the US Economy
Urbanization
Capitalism
8. Commitments & military expenditures have had lasting effects on the role of government in the economy.
Measuring economic variables
Foreign policy
Restricted growth is the result of a combination of many factors.
The purchasing power of the dollar
9. A competitive - free - market - free - price system is necessary for capitalism to function efficiently.
Benefits Received
Foreign policy
The degree of gov. control
Capitalism
10. 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.
Educational & religious institutions
Modern capitalism can be divided into basic sectors.
There are 4 basic universals of economics that are present in all types of economic organizations
Benefits Received
11. People have simply demanded more of government.
Private ownership
Two - thirds
The degree of gov. control
In our modern society -
12. Organized to fulfill basic social needs
In our modern society -
Urbanization
Measuring economic variables
All civilized societies
13. Of the world's population is economically deprived.
Educational & religious institutions
Two - thirds
Production
Political institutions
14. Has to do with its ability to command goods & services. Measuring changes in the value of the dollar is a key economic concept.
Educational & religious institutions
The degree of gov. control
Modern capitalism can be divided into basic sectors.
The purchasing power of the dollar
15. Areas of the world have shown limited economic growth.
The underdeveloped
Private ownership
Capitalism
Urbanization
16. Provides a means of analyzing the economy.
Measuring economic variables
The purchasing power of the dollar
The various types of taxes include
Wealth
17. Has created problems in labor - management relations that government seems to be able to handle best.
In our modern society -
Ability to Pay
The major types of gov. activities
Industrialization
18. Of government activity comes from its spending - taxing - and public debt policies.
Economy
The major economic impact
The institution of the family
Restricted growth is the result of a combination of many factors.
19. Is a measurement of assets on hand at a given point in time.
Wealth
Ability to Pay and Benefits Received
Capitalism
The major types of gov. activities
20. Provide a method to analyze the goods & services in a society.
Private ownership
In our modern society -
The degree of gov. control
Political institutions
21. Transmit the ideals & values of society.
The major types of gov. activities
Educational & religious institutions
The degree of gov. control
Production
22. Is a theory that bases taxation in accordance with income and wealth position.
The US economy
The Role of Government in the US Economy
Ability to Pay
Restricted growth is the result of a combination of many factors.
23. And influence in our economy has steadily grown throughout history.
The degree of gov. control
The major economic impact
Benefits Received
Capitalism
24. 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.
Measuring economic variables
Wealth
Economy
The basis of economics is that society must make choices
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.
The various types of taxes include
The basis of economics is that society must make choices
Private ownership
Benefits Received
26. 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 US economy
Restricted growth is the result of a combination of many factors.
The various types of taxes include
The purchasing power of the dollar
27. 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
Ability to Pay and Benefits Received
Capitalism
Modern capitalism can be divided into basic sectors.
The major types of gov. activities
28. Of property is fundamental to a capitalistic society.
Private ownership
The institution of the family
Capitalism
Industrialization
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.
Private ownership
The major types of gov. activities
Production
Wealth
30. Is a theory that bases taxation in accordance with the benefits received by the taxpayer; hunting & fishing fees are examples.
Political institutions
Industrialization
Benefits Received
The underdeveloped