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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
Political institutions
Urbanization
Educational & religious institutions
2. Is a measurement of assets on hand at a given point in time.
Wealth
The institution of the family
Ability to Pay
The basis of economics is that society must make choices
3. Commitments & military expenditures have had lasting effects on the role of government in the economy.
The US economy
Foreign policy
Two - thirds
Restricted growth is the result of a combination of many factors.
4. A competitive - free - market - free - price system is necessary for capitalism to function efficiently.
Capitalism
Educational & religious institutions
The US economy
Wealth
5. People have simply demanded more of government.
Restricted growth is the result of a combination of many factors.
Production
Wealth
In our modern society -
6. 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
Modern capitalism can be divided into basic sectors.
The major economic impact
Measuring economic variables
The basis of economics is that society must make choices
7. 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.
Political institutions
All civilized societies
Ability to Pay
There are 4 basic universals of economics that are present in all types of economic organizations
8. Has created problems in providing essential public services such as police and fire protection and sewage disposal.
Benefits Received
Urbanization
All civilized societies
Educational & religious institutions
9. And influence in our economy has steadily grown throughout history.
The degree of gov. control
The institution of the family
Industrialization
The various types of taxes include
10. Is the monetary return or other material benefits from currently produced goods & services.
The basis of economics is that society must make choices
Foreign policy
The degree of gov. control
Economy
11. Are the cornerstone of the US tax system.
Private ownership
Ability to Pay and Benefits Received
Modern capitalism can be divided into basic sectors.
Capitalism
12. Is a theory that bases taxation in accordance with the benefits received by the taxpayer; hunting & fishing fees are examples.
The major economic impact
The degree of gov. control
The major types of gov. activities
Benefits Received
13. Of the world's population is economically deprived.
The basis of economics is that society must make choices
The various types of taxes include
Two - thirds
Private ownership
14. Based on concepts of modern capitalism.
Foreign policy
The US economy
Measuring economic variables
The purchasing power of the dollar
15. Organized to fulfill basic social needs
All civilized societies
The major types of gov. activities
Foreign policy
The Role of Government in the US Economy
16. Provide a method to analyze the goods & services in a society.
Two - thirds
There are 4 basic universals of economics that are present in all types of economic organizations
Political institutions
Production
17. Is a theory that bases taxation in accordance with income and wealth position.
Modern capitalism can be divided into basic sectors.
The purchasing power of the dollar
Ability to Pay and Benefits Received
Ability to Pay
18. 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.
Restricted growth is the result of a combination of many factors.
The institution of the family
Benefits Received
The major types of gov. activities
19. ...see following cards.
The Role of Government in the US Economy
Benefits Received
Capitalism
Wealth
20. 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.
The Role of Government in the US Economy
The degree of gov. control
Production
The US economy
21. Of property is fundamental to a capitalistic society.
Capitalism
Private ownership
Ability to Pay and Benefits Received
Foreign policy
22. Transmit the ideals & values of society.
The purchasing power of the dollar
Educational & religious institutions
The basis of economics is that society must make choices
Industrialization
23. Has to do with its ability to command goods & services. Measuring changes in the value of the dollar is a key economic concept.
The major economic impact
Ability to Pay and Benefits Received
The purchasing power of the dollar
The various types of taxes include
24. 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 major types of gov. activities
Ability to Pay
The Role of Government in the US Economy
25. 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.
Private ownership
The basis of economics is that society must make choices
Modern capitalism can be divided into basic sectors.
Wealth
26. Areas of the world have shown limited economic growth.
Two - thirds
Political institutions
Benefits Received
The underdeveloped
27. Has created problems in labor - management relations that government seems to be able to handle best.
The US economy
Industrialization
Educational & religious institutions
Ability to Pay
28. In the economy include direct controls over the economy - ownership of production (for example - Hoover Dam) - and welfare expenditures.
Measuring economic variables
The major types of gov. activities
The degree of gov. control
In our modern society -
29. Of government activity comes from its spending - taxing - and public debt policies.
The underdeveloped
The major economic impact
Economy
Measuring economic variables
30. Provides a means of analyzing the economy.
Measuring economic variables
Wealth
The institution of the family
Two - thirds