Today most workers in the United States are employed in the_________________?
A. primary sector
B. secondary sector
C. tertiary sector
D. quaternary sector
Miscellaneous Economics Mcqs
When the American Cigar Co buys a pizza chain the process is called________________?
When the American Cigar Co buys a pizza chain the process is called________________?
A. monopoly
B. diversification
C. planned obsolescence
D. takeover attempt
When a few powerful corporation dominate as industry the condition is called_____________?
When a few powerful corporation dominate as industry the condition is called_____________?
A. a free market for all
B. oligopoly
C. government control
D. none of the above
The Industrial Revolution shifted the emphasis in ownership from land to______________?
The Industrial Revolution shifted the emphasis in ownership from land to______________?
A. gold and silver
B. the means of production machines tools materials
C. serfs
D. precious spices
Socialism and communism both call for________________?
Socialism and communism both call for________________?
A. government controlling parts of the economy for the common good
B. revolutionary change
C. abolition of private property
D. totalitarian government and dictatorship of the proletariat
Consumer sovereignty means that________________?
Consumer sovereignty means that________________?
A. production depends on supply and demand
B. consumers create demand
C. producers supply what is demanded
D. all of the above
A member of a Navajo tribe can graze his sheep on clan land but he cannot sell it Navajo land is what kind of property ?
A member of a Navajo tribe can graze his sheep on clan land but he cannot sell it Navajo land is what kind of property ?
A. Public
B. Private
C. Communal
D. Indian
The production possibilities frontier refers to_______________?
The production possibilities frontier refers to_______________?
A. the amount of each commodity that can be produced given available resources
B. unlimited production of one commodity
C. limitless output of commodities
D. none of the above
Material objects found in nature are called_______________?
Material objects found in nature are called_______________?
A. land
B. capital
C. labor
D. time
In industrial societies consumption ?
In industrial societies consumption ?
A. must always be limited
B. maintains and fuels demand
C. is not a factor
D. is viewed unfavorably