Econ Chapters 1 and 2

Econ Chapters 1 and 2

9th - 12th Grade

27 Qs

quiz-placeholder

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Econ Chapters 1 and 2

Econ Chapters 1 and 2

Assessment

Quiz

Social Studies

9th - 12th Grade

Hard

Created by

Forrest Carlson

Used 4+ times

FREE Resource

27 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

refers to individuals ability to start new businesses, to introduce new products and techniques and improve management in existing businesses

entrepreneurship

capital

factors of production

technology

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Things used to produce goods and services are called

opportunity cost

factors of production

technology

capital

3.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

What are the four factors of production that are used to create goods and services? Select all that apply

land

labor

capital

entrepreneurship

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The next best alternative that had to be given up for the alternative that was chosen is called

production possibilities

opportunity cost

max opportunity

cost-benefit analysis

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the study of how individuals and nations make choices about how to use scarce resources to fill their wants and needs is called

Production possibilites

Scarcity

economic markets

Economics

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

people do not have enough money, time, or resources to satisfy every desire. This is known as

not enough time

scarcity

equal opportunity

trade offs

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

all the combinations of goods and services that can be produced from a fixed amount of resources in a given period of time.

Production totals

Production possibilities

opportunity cost

trade offs

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