Macroeconomics: Topic 1.1

Macroeconomics: Topic 1.1

12th Grade

16 Qs

quiz-placeholder

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Macroeconomics: Topic 1.1

Macroeconomics: Topic 1.1

Assessment

Quiz

Education

12th Grade

Easy

Created by

Brittney Phan

Used 5+ times

FREE Resource

16 questions

Show all answers

1.

MULTIPLE SELECT QUESTION

15 mins • 1 pt

Which of these is TRUE about economics?

It's resources are classified into four categories called the Factors of Production.

It is concerned with concerned with how scarce resources are allocated among unlimited wants, needs, and desires.

It analyzes human behavior and decision-making.

It is the study of decisions only at the individual level.

2.

MULTIPLE SELECT QUESTION

15 mins • 1 pt

Which of these are the four factors of production?

Money, labor, capital, and entrepreneurship

Trade, labor, capital, and entrepreneurship

Land, labor, capital, and entrepreneurship

Trade, land, labor, and capital

3.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Which of these refers to natural resources?

Land

Labor

Capital

Entrepreneurship

4.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Which of these refers to the workers?

Land

Labor

Capital

Entrepreneurship

5.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Which of these refers to the things we used to make the other things?

Land

Labor

Capital

Entrepreneurship

6.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Which of these refers to the ability to figure out ways to solve problems using the other three factors of production?


Land

Labor

Capital

Entrepreneurship

7.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Payment for land is called...

Profit

Rent

Interest

Wage

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