US Major Economics Test 7

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20 questions · All questions on one page

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University Major — Test 7 (Economics) University (Undergraduate Majors, USA) USA USA University Majors Curriculum

What is this test? for University Major review (University Major — Test 7 (Economics)), USA — University (Undergraduate Majors, USA) level, USA.
For University students (Undergraduate) in Test 7 (Economics) in the USA — is this your major?
Section: University Major — Test 7 (Economics) · Education: University (Undergraduate) · Part: University Major — Test 7 (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 macroeconomics?

A) Whole-economy study

B) One firm

C) No study

D) Households only

Question 2

What is a stock?

A) Bond

B) Company share

C) Loan

D) Bill

Question 3

What is profit?

A) Loss

B) Break even

C) Gain over cost

D) No sales

Question 4

What is venture capital?

A) Bank loans

B) No funds

C) Grants only

D) Startup funding

Question 5

Provide the definition of SWOT:

A) Strengths weaknesses opportunities threats

B) No analysis

C) Numbers only

D) One factor

Question 6

Provide the definition of inflation:

A) Falling prices

B) Rising prices

C) Flat wages

D) High taxes

Question 7

What best defines branding?

A) No identity

B) Copying all

C) Identity building

D) Low prices

Question 8

Which term means "Customer study"?

A) accounting

B) the accounting equation

C) a balance sheet

D) market research

Question 9

Provide the definition of interest:

A) Borrowing cost

B) Free money

C) Savings gift

D) Tax refund

Question 10

Provide the definition of logistics:

A) Making goods

B) Moving goods

C) Selling goods

D) No moving

Question 11

What best defines economics?

A) Free goods

B) No choices

C) Choice under scarcity

D) Only money

Question 12

Which term means "Product price place promotion"?

A) accounting

B) the accounting equation

C) a balance sheet

D) the 4 Ps

Question 13

Provide the definition of revenue:

A) Earned income

B) Costs

C) Debts

D) Losses

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

What best defines leadership?

A) Ordering only

B) No people

C) Guiding people

D) Doing all

Question 16

Which term means "Price-setting forces"?

A) accounting

B) the accounting equation

C) a balance sheet

D) supply and demand

Question 17

Provide the definition of a business plan:

A) Roadmap document

B) No plan

C) One page

D) Oral pitch

Question 18

Provide the definition of finance:

A) Making goods

B) Money management

C) Hiring staff

D) Selling only

Question 19

What best defines a balance sheet?

A) Movie

B) Letter

C) Snapshot finances

D) Ad

Question 20

Which term means "Tax-spend management"?

A) accounting

B) the accounting equation

C) a balance sheet

D) fiscal policy

US Major Economics Test 7

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