Economics Block Final Exam

Economics Block Final Exam

11th - 12th Grade

60 Qs

quiz-placeholder

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Economics Block Final Exam

Economics Block Final Exam

Assessment

Quiz

Specialty

11th - 12th Grade

Practice Problem

Medium

Created by

Joan Kane

Used 9+ times

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60 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economics is about making choices.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Consumers in command economies have an unlimited amount of all goods available to them.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Labor is a type of human resource.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

You should ignore sunk costs in making economic choices.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Without scarcity, there would be no need for prices and no economic problem.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An economic system is the set of mechanisms and institutions that resolves the what, how, and for whom questions that all economies must answer.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A command economy is shaped largely by custom or religion.

True

False

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