NAME: ________________________

CE.12 U.S. Economy Test

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5 Written Questions

5 Matching Questions

  1. In the circular flow, individuals use their income to -
  2. why states and nations trade
  3. innovations in technology
  4. These act as intermediaries between savers and borrowers
  5. using technology lowers -
  1. a private financial institutions
  2. b
    purchase products
  3. c the cost of production
  4. d - to obtain goods and services they cannot produce
    - to obtain goods and services they cannot produce efficiently
    - to seel goods and services
    - to create jobs
  5. e contribute to the global flow of information, capital, goods and services

5 Multiple Choice Questions

  1. Internet
  2. a form of business organization that is authorized by law to act as a legal person regardless of the number of owners

  3. to increase wealth
  4. by paying interest on deposits
  5. form of business organization with one owner who takes all the risks and all the profits

5 True/False Questions

  1. In a corporation, owner liability is limited to -resources

          

  2. global economyperson who takes a risk to produce goods and services in search of profit

          

  3. types of business ownershipform of business organization with one owner who takes all the risks and all the profits

          

  4. Government uses tax revenue to -contribute to the global flow of information, capital, goods and services

          

  5. In the circular flow, businesses buy resources to -make products

          

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