Economics (Midterms) - ABM LC Intellegentia Merkados

Economics (Midterms) - ABM LC Intellegentia Merkados

12th Grade

30 Qs

quiz-placeholder

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Economics (Midterms) - ABM LC Intellegentia Merkados

Economics (Midterms) - ABM LC Intellegentia Merkados

Assessment

Quiz

Other

12th Grade

Medium

Created by

Iza Hernaez

Used 1+ times

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30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the three basic economic concepts?


  1. Scarcity, Choice, Microeconomics

Microeconomics and Macroeconomics

Scarcity, choice, and opportunity cost

Microeconomics, Macroeconomics, Production Possibilities Frontier (PPF)

2.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

What is a subset of economics that focuses on the smaller agents’ decisions and how they might react in certain situations?

3.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

______________ looks at economics at a broader perspective, looking at collectives rather than individual players in the market.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economists recognize that human wants are limited.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What refers to the limited availability of a resource, good, or service?

Choice

Opportunity Cost

Scarcity

Utility

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This economic question asks for whom the goods and services should be given.

What should we produce?

How should we produce it?

For whom should we produce it?

7.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Enumerate the Four Factors of Production in Economics (use comma to separate each factor)

[e.g. : gold, silver, bronze]

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