Economics Exam 1 (1,2,3)
Authored by Kimberly Agurcia
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12th Grade
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32 questions
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1.
OPEN ENDED QUESTION
3 mins • 1 pt
What is the study of scarcity in economics?
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2.
OPEN ENDED QUESTION
3 mins • 1 pt
Who proposed the concept of 'Factor of Production'?
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3.
OPEN ENDED QUESTION
3 mins • 1 pt
What is the concept of 'Division & Specialization of Labor'?
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4.
OPEN ENDED QUESTION
3 mins • 1 pt
Who is associated with the concept of 'Wealth of Nations'?
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5.
OPEN ENDED QUESTION
3 mins • 1 pt
What are the economies of scale?
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6.
OPEN ENDED QUESTION
3 mins • 1 pt
What are the two main branches of economics?
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7.
OPEN ENDED QUESTION
3 mins • 1 pt
Explain fiscal policy in economics.
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