|Name: _________________________||Period: ___________________|
This quiz consists of 5 multiple choice and 5 short answer questions through For Chapters 8-10.
Multiple Choice Questions
1. According to the author in Chapter 1, companies want to profit, and consumers want what?
2. OPEC has maintained its headquarters where since 1965?
3. According to the author, there are two lessons to be learned from a monopoly situation. What is the second?
(a) Governments should provide more services.
(b) Governments should maintain the financial infrastructure more.
(c) Government shouldn't provide any service that could be covered by the private sector.
(d) Government shouldn't actually do the work of maintaining infrastructure.
4. According to the author, insurance companies want to save money while doctors want to help patients and avoid what?
(a) Unnecessary fatalities.
(b) Losing their medical license.
(c) Spreading diseases.
(d) Getting sued.
5. In what political structure does the government set the price and decide what's on the shelves?
Short Answer Questions
1. In Chapter 2, the author discusses how the black rhinoceros is nearly extinct and that the horns are considered what?
2. In Chapter 6, the author discusses poverty and income equality, using the example of what billionaire?
3. In economics, what is a good that is non-rival and non-excludable?
4. What is a financial term denoting a collection of investments held by an investment company, hedge fund, financial institution or individual?
5. What is the appropriation of government spending for localized projects secured solely or primarily to bring money to a representative's district?
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