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FBLA Economics Test
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FBLA Economics Test
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25 Questions

1. Which of the following is NOT a key economic question?
2. The resources used to make all goods and services are the __________.
3. The government of a country must make a decision between spending money on a hospital or spending the same amount on border security. What kids of decision is this?
4. The Temporary Assistance for Needy Families program provides __________.
5. The Chinese economy would be characterized as __________.
6. The government of a country must make a decision between increasing military spending and subsidizing wheat farmers. This kind of decision is a __________.
7. What effect does new technology usually have on an economy?
8. An example of a shortage is limited amounts of __________.
9. The Marshall Plan was a program funded by the U.S. government that __________.
10. The law of increasing costs means that when an economy increases the production of one item the __________.
11. Which of the following is the kind of decision that can be made at the margin?
12. An efficient economy is one that __________.
13. The government uses its powers to make sure that businesses disclose information to the public to make __________.
14. A __________ group is a privatae organiztion that attepts to influence public officials to act or vote in ways that will benefit the group's members?
15. __________ was a free market philosopher.
16. The role of government in a free enterprise is to __________.
17. Why does even a free market economy need some government intervention?
18. How would you describe an economy that uses its resources to make the greatest possible number of goods and services?
19. One of the most important advantages of a free market is it __________.
20. Our American Free Enterprise System can be divided between individuals and business which operate in the public and or the private sector. The difference between the two is that __________.
21. Which of the following makes someone an entrepreneur?
22. The purpose of competition is to __________.
23. What does the process of specialization do for an economy?
24. The product marker is the market in which __________.
25. Which of the following is NOT an example of a public good?

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