Pre_Test (Applied Economics) Q2

Pre_Test (Applied Economics) Q2

11th Grade

10 Qs

quiz-placeholder

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Pre_Test (Applied Economics) Q2

Pre_Test (Applied Economics) Q2

Assessment

Quiz

Other

11th Grade

Medium

Created by

Vargas, A.

Used 17+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

It is the study of the trade-offs and choices that we make, given the fact of scarcity.

Economics 

Free Goods

Opportunity cost

Scarcity 

2.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

It is inputs used in the production of goods and services to make a profit: land, economic capital, labor, and entrepreneurship; also called “factors of production”

Economic Goods

Free Goods

Opportunity cost

Productive Resources

3.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

It refers to any human service physical or intellectual. Also referred to as human capital.

Economic capital

Labor

Entrepreneurship

Land

4.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

It refers to natural resource, including actual land, but also trees, plants, livestock, wind, sun, water, etc.

Economic capital

Labor

Entrepreneurship

Land

5.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

It deals with anything that’s manufactured in order to be used in the production of goods and services.

Economic capital

Labor

Entrepreneurship

Land

6.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

It is the ability of someone (an entrepreneur) to recognize a profit opportunity, organize the other factors of production, and accept risk.

Economic capital

Labor

Entrepreneurship

Land

7.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

It is the branch of economics that focuses on actions of particular agents within the economy, like households, workers, and businesses. We learn about the theory of consumer behavior and the theory of the firm.

Economics

Macroeconomics

Microeconomics

Economic Goods

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