Unit 1.1 Review Questions
Authored by Mark Wise
Social Studies
10th Grade
ECON-1 covered
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8 questions
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1.
OPEN ENDED QUESTION
3 mins • 12 pts
Define scarcity.
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2.
OPEN ENDED QUESTION
3 mins • 12 pts
Define economics.
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3.
OPEN ENDED QUESTION
3 mins • 12 pts
Identify the relationship between scarcity and choices.
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4.
OPEN ENDED QUESTION
3 mins • 12 pts
Explain how Macroeconomics is different than Micro.
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5.
OPEN ENDED QUESTION
3 mins • 12 pts
Explain the difference between positive and normative economics.
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6.
OPEN ENDED QUESTION
3 mins • 12 pts
Identify the four factors of production and give an example of each.
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7.
OPEN ENDED QUESTION
3 mins • 12 pts
Explain why entrepreneurs make goods/services.
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