What is Economics?

Econ Final Review

Quiz
•
Social Studies
•
10th Grade
•
Medium
Kendall Giles
Used 134+ times
FREE Resource
40 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Something we would like to have but is not necessary for survival.
Basic requirement for survival.
Social Science concerned with the production, distribution, and consumption of goods and services.
Monetary ($) worth of a good or service.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a need?
Something we would like to have but is not necessary for survival.
Basic requirement for survival.
A useful/tangible item that can satisfy a want/need.
Work that is performed for someone.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a want?
Something we would like to have but is not necessary for survival.
Basic requirement for survival.
A useful/tangible item that can satisfy a want/need.
Work that is performed for someone.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a good?
Something we would like to have but is not necessary for survival.
Basic requirement for survival.
A useful/tangible item that can satisfy a want/need.
Work that is performed for someone.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a service?
Something we would like to have but is not necessary for survival.
Basic requirement for survival.
A useful/tangible item that can satisfy a want/need.
Work that is performed for someone.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a capital good?
Intended for final use by individuals.
Tool/equipment used to make other goods.
Lasts for less than 3 years w/ regular use.
Lasts for 3+ years w/ regular use.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a consumer good?
Intended for final use by individuals.
Tool/equipment used to make other goods.
Lasts for less than 3 years w/ regular use.
Lasts for 3+ years w/ regular use.
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