What is Economics--Day 1 2023

What is Economics--Day 1 2023

9th - 12th Grade

40 Qs

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What is Economics--Day 1 2023

What is Economics--Day 1 2023

Assessment

Quiz

Social Studies

9th - 12th Grade

Practice Problem

Hard

Created by

Dustin Rimmey

Used 2+ times

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40 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is scarcity? 

Giving something up to have something else
Extra cost of production
The condition that results form having unlimited wants with limited resources
Rise in general level of prices and workers need more money

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a natural resource?

Oil
Water
Car
Air

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following IS a capital resource?

Wood
Computer
Labor
Knowledge

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens when demand is bigger than supply?

Deflation
Surplus
Demand
Shortage

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The gross national product of a country would be studied in:

Microeconomics

Macroeconomics

Business relations

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why someone chooses to buy one product over another is included in the study of ____________.

Microeconomics

Macroeconomics

Business relations

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Roads, ports, internet networks, airports are examples of

human capital

infrastructure

land

labor

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