1.1 Basic Economic Concepts
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1.1 Basic Economic Concepts
Quiz
•
Business
•
1st - 12th Grade
•
Practice Problem
•
Medium
Ibrahim Zamiu
Used 10+ times
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16 questions
Show all answers
1.
FILL IN THE BLANK QUESTION
30 sec • 1 pt
__is the study of resources, its utilization and how decesions are made to satisfy unlimited wants with limited resources
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Basic necessities of life are called
wants
resources
capital
needs
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The basic economic problem is
scarcity
wants
Lunch
book
4.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Select example of needs from below
Food
Water
iphone
shelter
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Things we desire to have are called
Needs
Wants
Resources
Phone
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which one of the following is a type of resource
Economics
Scarcity
Natural resource
Wants
7.
FILL IN THE BLANK QUESTION
30 sec • 1 pt
_____ are the inputs required to produce output
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