
QUIZ Fundamentals
Quiz
•
Specialty
•
University
•
Hard
Montse Zapata
Used 1+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Scarcity is created due to the unlimited wants and the use of all the resources?
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Whenever there's scarcity the consumers need to
Have surplus
Review uses
Identify alternatives
Eliminate the wants
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Is a product that is comparable and similar in functionality to the "original" item
Substitute
Replacement
Modifying
Improvements
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A replacement product can be invented / designed when the original item becomes temporarily or permanently unavailable.
Substitute
Replacement
Modifying
Improvement
5.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Efficiency occurs when you execute the processes as fast as you can?
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a surplus occurs?
When the scarcity is low
When the opposite to scarcity occurs
When a surplus is common
When you have surplus of all products
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Is the form by which societies or governments organize and distribute the available resources across a country
Scarcity
Surplus
Economic agents
Economic systems
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