GWC N5 Economics The Basic Economic Problem
Authored by Joanne Arneil
Other
9th - 10th Grade
Used 184+ times
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9 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Opportuity costs is
making the wrong decision
the sacrifice of the next best alternative foregone
chosing one thing over another
not having enough money to do everything you want
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The basic economic problem is
unlimited wants
limited resources
scarcity
greed
3.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
The basic economic problem can never be eliminated.
true
false
4.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
A need is
something we have to have in order to survive
something we have to have to make our life better
5.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
A want is
something we have to have in order to survive
something we would like to have to make our life better
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which is not an example of a need
water
clothing
a holiday abroad
shelter
7.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Which are not a factors of production
land
rent
capital
interest
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