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  • Macroeconomics 101
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Economics EOC Review 2026 | Study Guide, Practice Questions, Answers, Rationales & Exam Review

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Institution Macroeconomics 101
Course Macroeconomics 101
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Prepare for the Economics EOC with focused review materials covering essential microeconomics and macroeconomics concepts, scarcity, opportunity cost, supply and demand, markets, economic systems, fiscal and monetary policy, and key economic terminology. Includes organized study notes, practice questions, answers, and detailed rationales to reinforce knowledge and support effective EOC exam preparation.

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Economics EOC Review
2026 | Study Guide,
Practice Questions,
Answers, Rationales &
Exam Review | Complete
Ethics Study Guide

Updated 2026 Questions and Answers
100% Verified Exam Prep and Comprehensive
Rationales
Included

, What are the four factors of production? Land, Labor, Capital, and Entrepreneurship




What type of competition is a public utility such as a power Natural Monopoly
company or water company?



Which economist wrote the Wealth of Nations and Adam Smith
advocated the "invisible hand" theory?



What are the three types of taxation? Progression, Proportional, and Regressive




Our personal federal income tax system is an example of Progressive
what kind of taxation?



A local sales tax would be considered which type of Regressive
taxation?



How many Federal Reserve district banks are there? 12




Where is our district bank located? Atlanta




What are the three economic systems? Traditional, Market, and Command




Which type of economic system is characterized by Command Economy
government ownership of business and industry?



What are the three functions of money? Measure of value, measure of account, and medium of exchange




What are the four types of business competition? Pure, Monopolistic, Oligopoly, and Monopoly

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