Economics Vocabulary Quiz 2

20 Questions  I  By Jessicaleague
Choose the best term to match the definition.   This is for practice only.   Results are not graded.   You may take this quiz as often as you wish.  

  
Changes are done, please start the quiz.


Question Excerpt

Removing question excerpt is a premium feature

Upgrade and get a lot more done!
1.  The total amount of goods and services in the economy that are consumed. 
A.
B.
C.
D.
2.  A business organization owned by two or more persons who agree on a specific division of responsibilities and profits. 
A.
B.
C.
D.
3.  Rate the Federal Reserve charges for loans to commercial banks. 
A.
B.
C.
D.
4.   A price index determined by measuring the price of a standard group of goods meant to represent the typical "market basket" of a typical urban consumer.
A.
B.
C.
D.
5.  A maximum price that can be legally charged for a good or service. 
A.
B.
C.
D.
6.  A minimum price for a good or service. 
A.
B.
C.
D.
7.  Unemployment that rises during economic development and falls when the economy improves. 
A.
B.
C.
D.
8.  The nation's central banking system 
A.
B.
C.
D.
9.  A situation in which the government spends more than it takes in. 
A.
B.
C.
D.
10.  A business owned and managed by a single individual. 
A.
B.
C.
D.
11.  Goods used in place of each other. 
A.
B.
C.
D.
12.  A market structure in which a few large firms dominate a market. 
A.
B.
C.
D.
13.  A recession that is especially long and severe. 
A.
B.
C.
D.
14.  The amount of goods available. 
A.
B.
C.
D.
15.  A period of macroeconomic expansion followed by a period of contraction. 
A.
B.
C.
D.
16.  A market dominated by a single seller. 
A.
B.
C.
D.
17.  The amount of goods and services in the economy. 
A.
B.
C.
D.
18.  A market structure in which a large number of firms all produce the same product. 
A.
B.
C.
D.
19.  Unemployment that occurs when people take time to find a job. 
A.
B.
C.
D.
20.  The use of government spending and revenue collection to influence the economy. 
A.
B.
C.
D.
Back to top


to post comments.

Removing ad is a premium feature

Upgrade and get a lot more done!
Take Another Quiz