Fundamentals of Economics

Fundamentals of Economics

11th - 12th Grade

26 Qs

quiz-placeholder

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Fundamentals of Economics

Fundamentals of Economics

Assessment

Quiz

Social Studies

11th - 12th Grade

Easy

Created by

Myra Frazer

Used 20+ times

FREE Resource

26 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Desires that can be satisfied by consuming a good or service
Wants
Needs
Scarcity
Factors of Production

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Basic requirements for human survival
Needs
Scarcity
Factors of Production
Natural Resources

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The limited nature of society's resources
Scarcity
Factors of Production
Natural Resources
Human Resources

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Land, labor, and capital; the three groups of resources that are used to make all goods and services
Factors of Production
Natural Resources
Human Resources
Physical Capital

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Raw materials from nature that are used to produce goods
Natural Resources
Human Resources
Physical Capital
Entrepreneur

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

People who work to produce goods and services
Human Resources
Physical Capital
Entrepreneur
Opportunity Cost

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The human-made objects used to create other goods and services
Physical Capital
Entrepreneur
Opportunity Cost
Marginal Cost

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