|Name: _________________________||Period: ___________________|
This quiz consists of 5 multiple choice and 5 short answer questions through Forward - Chapter 3.
Multiple Choice Questions
1. According to the author in Chapter 1, companies want to profit, and consumers want what?
2. What refers to a market where prices are determined by supply and demand?
(a) Random market.
(b) Influx market.
(c) Controlled market.
(d) Free market.
3. When was Burton G. Malkiel born?
4. What, according to the author, motivates talented teachers to leave to go onto other professions?
(a) Supply and demand.
(d) The uniform pay scale.
5. Arab members of OPEC alarmed the developed world when they used the "oil weapon" during what war by implementing oil embargoes?
(a) The Yom Kippur War.
(b) The Gaza War.
(c) The Torah War.
(d) The Jerusalem War.
Short Answer Questions
1. What is a situation that involves losing one quality or aspect of something in return for gaining another quality or aspect?
2. According to the principles of a market economy, if it's raining, it's time to sell what?
3. What are negative results which occur while trying to achieve a goal for the common good?
4. When did Ross Perot found Electronic Data Systems?
5. According to the author in Chapter 2, the average annual income is what in the location where black rhinoceros horns are worth much on the black market?
This section contains 208 words
(approx. 1 page at 300 words per page)