Econ Unit 1
Quiz
•
Social Studies
•
12th Grade
•
Practice Problem
•
Easy
Jennifer Stiles
Used 9+ times
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21 questions
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1.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Economics is the study of how ______________, _________________, and ___________________ use their scarce or limited resources.
People
government
nations
businesses
2.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Economics is the study of how ______________, _________________, and ___________________ use their scarce or limited resources.
People
government
nations
businesses
3.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
What are the 4 factors of production?
Natural resources
capital
Air
labor
entrepreneurs
4.
FILL IN THE BLANK QUESTION
1 min • 1 pt
What is the difference between wants and needs?
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Tools and machines, a person or a business uses to produce goods and services is called _________?
Capital
Scarcity
Specialization
Opportunity Cost
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A _____________________ buys and use goods and services.
Consumer
Seller
Profits
Standard of living
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The condition in which there aren't enough resources available to produce everything that individuals need is__
opportunity cost
scarcity
circular flow model
choice
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