What type of economics looks at small units like individuals, families, and businesses?
Chapter 1 Review

Quiz
•
Social Studies
•
12th Grade
•
Easy
Shailindar Singh
Used 66+ times
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Macroeconomics
Nanoeconomics
Microeconomics
Bruce's Ecconomics
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Making a decision by weighing the pros and cons is called
deductive method
flip a coin
economic impact analysis
cost benefit analysis
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The father of economics is
Karl Marx
Milton Friedman
Adam Smith
George Washington
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a family decides to buy a used car they are using what type of economics?
Macroeconomics
Microeconomics
Principal's Law
Nanoeconomics
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The term for having limited resources to meet unlimited wants and needs is
Productivity
Specialization
Scarcity
Profit
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Economics is the study of how people
Gain knowledge and skills from studying
Choose from limited resources to meet their wants
Respond to war and drought
Calculate their income
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a capital resource?
Power Drill
Iron Ore
Manager
Consumer
Answer explanation
Capital resources are the things we need to produce goods or provide services.
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