US Economics Major Advanced Test 4

Majors » Category

Author: TestGru Team (Education Specialist)

20 questions · All questions on one page

Prepared with up-to-date content

University Major — Test 4 (Economics Major Advanced) University (Undergraduate Majors, USA) USA USA University Majors Curriculum

What is this test? for University Major review (University Major — Test 4 (Economics Major Advanced)), USA — University (Undergraduate Majors, USA) level, USA.
For University students (Undergraduate) in Test 4 (Economics Major Advanced) in the USA — is this your major?
Section: University Major — Test 4 (Economics Major Advanced) · Education: University (Undergraduate) · Part: University Major — Test 4 (Economics Major Advanced) · Country: USA

Economics is a fundamental social science examining the relationship between unlimited wants and scarce resources.

This test will help you assess your knowledge of micro- and macro-economics.

By solving this test of 20 questions, you can both test your knowledge and identify the topics you need to improve.

Question 1

What is competition?

A) Rival sellers

B) One seller

C) No sellers

D) Government only

Question 2

What is inflation?

A) Falling prices

B) Rising prices

C) Flat wages

D) High taxes

Question 3

What is macroeconomics?

A) One firm

B) No study

C) Whole-economy study

D) Households only

Question 4

What is accounting?

A) Selling goods

B) Hiring staff

C) Making ads

D) Recording finances

Question 5

Which term means "Company share"?

A) a stock

B) accounting

C) the accounting equation

D) a balance sheet

Question 6

Provide the definition of a bond:

A) Share

B) Lent money paper

C) Bill

D) Coin

Question 7

Which term means "Snapshot finances"?

A) accounting

B) the accounting equation

C) a balance sheet

D) revenue

Question 8

Which term means "Gain over cost"?

A) accounting

B) the accounting equation

C) a balance sheet

D) profit

Question 9

Which term means "Choice under scarcity"?

A) economics

B) accounting

C) the accounting equation

D) a balance sheet

Question 10

Provide the definition of management:

A) No planning

B) Planning leading organizing

C) Workers only

D) Selling only

Question 11

Which term means "Spending plan"?

A) accounting

B) the accounting equation

C) a budget

D) a balance sheet

Question 12

Which term means "Borrowing cost"?

A) accounting

B) the accounting equation

C) a balance sheet

D) interest

Question 13

Which term means "Promoting selling"?

A) marketing

B) accounting

C) the accounting equation

D) a balance sheet

Question 14

Provide the definition of the accounting equation:

A) Profit only

B) Assets equal liabilities equity

C) No equation

D) Cash only

Question 15

Which term means "Price-setting forces"?

A) accounting

B) the accounting equation

C) supply and demand

D) a balance sheet

Question 16

Which term means "Money management"?

A) accounting

B) the accounting equation

C) a balance sheet

D) finance

Question 17

Which term means "Spreading risk"?

A) diversification

B) accounting

C) the accounting equation

D) a balance sheet

Question 18

Provide the definition of the 4 Ps:

A) People only

B) Product price place promotion

C) No Ps

D) Profit only

Question 19

Which term means "Making delivering"?

A) accounting

B) the accounting equation

C) operations

D) a balance sheet

Question 20

Which term means "Earned income"?

A) accounting

B) the accounting equation

C) a balance sheet

D) revenue

US Economics Major Advanced Test 4

Test Complete

About This Test