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Tenth Grade (Grade 10) Economics Questions

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Grade 10 Economics
Grade 10 Economics
What is the term for when a company receives control over the entire market?
  1. Free Enterprise
  2. Perfect Competition
  3. Oligopoly
  4. Monopoly
Grade 10 Economics
Which of the following is NOT a quality of a free enterprise economic system?
  1. Lassiez-Faire
  2. lack of government control
  3. high taxes for businesses/corporations
  4. reliance on supply and demand
Grade 10 Economics
Taxes on the sale of tobacco, gasoline, and alcohol are
  1. gift taxes
  2. property taxes
  3. estate taxes
  4. excise taxes
Grade 10 Economics
Grade 10 Economics
You must file your tax return no later than
  1. July 4
  2. September 11
  3. December 7
  4. April 15
Grade 10 Economics
Grade 10 Economics
Employers must withhold from your paycheck:
  1. federal income tax
  2. property taxes
  3. excise taxes
  4. tariffs
Grade 10 Economics
The difference between income and wages is:
  1. income is taxable, wages are not
  2. wages are taxable, income is not
  3. wages are only for labor
  4. wages are only for products sold
Grade 10 Economics
The idea that those who have larger incomes should pay a larger share of what they receive is called the
  1. ability-to-pay principle.
  2. benefit principle.
  3. fair principle.
  4. equality principle.
Grade 10 Economics
The idea that those who use a good or service provided by the government should pay for it is called the
  1. ability-to-pay principle
  2. benefit principle
  3. fair principle
  4. equality principle
Grade 10 Economics
Social Security and Medicare taxes are paid by:
  1. employees
  2. employers
  3. both
  4. neither
Grade 10 Economics
A law describing the relationship between an items availability and its value is a definition of
  1. developed nation
  2. supply and demand
  3. Tragedy of the Commons
  4. renewable resource
Grade 10 Economics
The form you send in along with you tax return is:
  1. Form W-4
  2. Form W-2
  3. Form 5W40
  4. Form W-4010
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