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This quiz consists of 5 multiple choice and 5 short answer questions through For Chapters 8-10.

Multiple Choice Questions

1. In economics and sociology, what refers to any factor that enables or motivates a particular course of action or counts as a reason for preferring one choice to the alternatives?
(a) Barrier.
(b) Incentive.
(c) Belief.
(d) Punishment.

2. When was Douglas Ivester born?
(a) 1958.
(b) 1947.
(c) 1922.
(d) 1939.

3. What is a form of tourism involving visiting fragile, pristine, and usually protected areas, intended as a low impact and often small scale alternative to standard commercial tourism?
(a) Geotourism.
(b) Ecotourism.
(c) Nativetourism.
(d) Hippytourism.

4. In finance, what is a standardized contract between two parties to exchange a specified asset of standardized quantity and quality for a price agreed today with delivery occurring at a specified future delivery date?
(a) Asset allocation.
(b) Futures contract.
(c) Supply and demand.
(d) Business cycle.

5. What is a professionally managed type of collective investment scheme that pools money from many investors to buy stocks, bonds, short-term money market instruments, and/or other securities?
(a) Mutual fund.
(b) Asset allocation.
(c) Foreign Exchange Market.
(d) Index fund.

Short Answer Questions

1. In order to get a true understanding of an economy, there are nine factors one should consider along with the GDP according to the author in Chapter 9. What is the fifth?

2. In what political structure does the government set the price and decide what's on the shelves?

3. What is the fourth simple need of financial markets, as discussed in Chapter 7?

4. In order to get a true understanding of an economy, there are nine factors one should consider along with the GDP according to the author in Chapter 9. What is the fourth?

5. Economists ignored signs of problems in what year because they didn't want to face what might happen in the future, according to the author in the Introduction?

(see the answer key)

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