US Major Economics Test 5

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Author: TestGru Team (Education Specialist)

20 questions · All questions on one page

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University Major — Test 5 (Economics) University (Undergraduate Majors, USA) USA USA University Majors Curriculum

What is this test? for University Major review (University Major — Test 5 (Economics)), USA — University (Undergraduate Majors, USA) level, USA.
For University students (Undergraduate) in Test 5 (Economics) in the USA — is this your major?
Section: University Major — Test 5 (Economics) · Education: University (Undergraduate) · Part: University Major — Test 5 (Economics) · 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 branding?

A) Identity building

B) No identity

C) Copying all

D) Low prices

Question 2

What is economics?

A) Free goods

B) Choice under scarcity

C) No choices

D) Only money

Question 3

What is leadership?

A) Ordering only

B) No people

C) Guiding people

D) Doing all

Question 4

What is a balance sheet?

A) Movie

B) Letter

C) Ad

D) Snapshot finances

Question 5

Which of the following best defines SWOT?

A) Strengths weaknesses opportunities threats

B) No analysis

C) Numbers only

D) One factor

Question 6

Which of the following best defines inflation?

A) Falling prices

B) Rising prices

C) Flat wages

D) High taxes

Question 7

Which term means "Output value total"?

A) accounting

B) the accounting equation

C) GDP

D) a balance sheet

Question 8

Which of the following best defines macroeconomics?

A) One firm

B) No study

C) Households only

D) Whole-economy study

Question 9

Which of the following best defines interest?

A) Borrowing cost

B) Free money

C) Savings gift

D) Tax refund

Question 10

Which of the following best defines logistics?

A) Making goods

B) Moving goods

C) Selling goods

D) No moving

Question 11

Which term means "Making delivering"?

A) accounting

B) the accounting equation

C) operations

D) a balance sheet

Question 12

Which of the following best defines a stock?

A) Bond

B) Loan

C) Bill

D) Company share

Question 13

Which of the following best defines revenue?

A) Earned income

B) Costs

C) Debts

D) Losses

Question 14

Which of the following best defines the accounting equation?

A) Profit only

B) Assets equal liabilities equity

C) No equation

D) Cash only

Question 15

Which term means "Spreading risk"?

A) accounting

B) the accounting equation

C) diversification

D) a balance sheet

Question 16

Which of the following best defines profit?

A) Loss

B) Break even

C) No sales

D) Gain over cost

Question 17

Which of the following best defines a business plan?

A) Roadmap document

B) No plan

C) One page

D) Oral pitch

Question 18

Which of the following best defines finance?

A) Making goods

B) Money management

C) Hiring staff

D) Selling only

Question 19

Which term means "People management"?

A) accounting

B) the accounting equation

C) HR

D) a balance sheet

Question 20

Which of the following best defines venture capital?

A) Bank loans

B) No funds

C) Grants only

D) Startup funding

US Major Economics Test 5

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