Basic Economics Test Review
Authored by Noah Graziano
Business
11th Grade
Used 24+ times
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40 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Equipment, machines, buildings that are used to produce other goods and services
Specialize
Human Resources
Capital Resources
Imports
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A study of how people choose to use scarce resources to produce and distribute goods and services
Capital Goods
Economics
Scarcity
Production Possibilities Curve
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
People who work to produce goods and services
Human Resources
Natural Resource
Machines
Entrepreneurs
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
"Gifts from nature" used to produce goods and services
Machines
Three Basic Questions
Price
Natural Resources
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Cost of a choice is the value of the next best alternative given up
Economics
Scarcity
Opportunity Cost
Tradeoff
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Natural, Human, & Capital are what?
Productive Resources/Factors of Production
Goods and Services
Wants and Needs
Economics
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Unlimited Wants > Limited Resources
Population
Scarcity
Climate
Economics
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