AnswersFL-2106010-MJ Civics B-CRUnit Test

Unit Test — Unit test Answers

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Review the graphic organizer.

Question illustration
A
socialism
B
communism
C
capitalism
D
Marxism
22
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Which scenario describes a monopoly?

A
Company X and Company Y both produced farm tractors. Company X bought Company Y, making the merged company the largest supplier of tractors in the Midwest.
B
Berry Gordy Jr. founded Motown Records in 1959. Over time, the Black-owned business became one of the most success independent record labels.
C
In the late 1800s, Carnegie Steel controlled the steel supply in the United States. This allowed the company to set prices for steel throughout the United States.
D
A large supermarket chain moved into a neighborhood and offered low prices. Unable to compete, the neighborhood’s small independent grocery store closed.
23

What is the equilibrium price?

A
the price at which demand exceeds supply
B
the price at which producers provide substitute goods
C
the price at which consumers turn to substitute goods
D
the price at which supply and demand are balanced
24

The Swedish government wanted to boost the workforce participation rate in the country. One step it took was to fund childcare and preschools. As a result of this and other policies, around 75 percent of Sweden’s working-age population is now employed.Which statement best explains how the government’s childcare policy helped it achieve its economic goal?

A
The policy provided employment for preschool teachers.
B
The policy made it easier for parents of young children to work.
C
The policy created jobs for the parents of preschool-aged children.
D
The policy encouraged businesses to hire more workers.
25

The owner of Tasty Eats restaurant is considering expanding its hours by opening for breakfast. The restaurant is currently open for lunch and dinner. However, opening for breakfast will mean hiring more waiters and cooks. The restaurant already had trouble hiring enough workers for the lunch and dinner shifts. After careful consideration, the owner decides to not open for breakfast.

A
scarcity of capital
B
scarcity of land
C
scarcity of labor
D
scarcity of customers

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