Unit 1 Economics

Unit 1 Economics

9th - 12th Grade

20 Qs

quiz-placeholder

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Unit 1 Economics

Unit 1 Economics

Assessment

Quiz

History, Specialty

9th - 12th Grade

Practice Problem

Medium

Created by

Rene Sherwood

Used 1K+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

__________study of how people (including companies/countries) make choices on buying, selling, using, and distributing goods/services.

Economics
Consumer Science
Opportunity Costs

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Government is the study of getting rich and the stock market.

True
False

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Basic Economic Problem: Mismatch of unlimited wants and needs and unlimited economic resources.

True
False

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

__________ Things required to live such as food, shelter, clothing, air

Need
Want
Tradeoff

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

____________ The actual thing you gave up to have something else. Everything has a cost

Opportunity Cost
Tradeoff
Incentive

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

_____________ anything that it used to make a good or service.

Resources
Good
Service

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The two branches of economics are micro & macro. 

True
False

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