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1.2 ~ Economic Decisions.Economic Systems

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1.2 ~ Economic Decisions.Economic Systems
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31 questions

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1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

Soil, minerals, air, water, and coal are all examples of

natural resources
Conservation
recycling

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

Oil, natural gas, and coal are called ________resources.

fossil fuels
conservation
natural

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Johnny has $50 and wants to buy a pair of Nike Shoes that cost $95.  He has to settle for a pair of Sketchers for $45.  In economic terms, Johnny is facing the problem of: 

Shortage
Scarcity 
Unemployment 
Marginal costs

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

 The difference between a good and a service is that:

Goods are available in unlimited quantities and services are not.
Goods are tangible and services are not.
Services are available in unlimited quantities and goods are not.
Goods help satisfy unlimited wants and services do not.

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

A service is something that something that someone does for you. Which one is a service?

You get a hair cut.
You go shopping at Walmart and purchase a new game system.
You  visit your doctor and buy a A set of false teeth.

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

A good is something you buy and consume.  Which of the below is a good?.

Sara visited the dentist for a checkup and it cost $25.
You take cruise to the Bahamas.
Your Mom takes you to Pizza Hut and you buy pizza to eat.
Your pay a visit to the PA State Museum and see the Dinosaur Exhibit.

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

A service is something that someone does for you.   A good is a something you buy and consume. Tell which is a good AND a service.

You buy a book and the author signs it.
You get a hair cut.
You won a book at the book fair.
Your brother sells you his old bike.

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