Ch. 1 Review
Authored by Amanda Wallace
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
The process of choosing which needs and wants will be satisfied.
economic decision making
needs
wants
goods
services
2.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
A person who buys and uses goods and services
consumer
needs
wants
goods
services
3.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
An economy in which the resources are owned and controlled by the people of the country.
market economy
needs
wants
goods
services
4.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Activities provided for the satisfaction of others that are consumed at the same time they are produced.
services
needs
wants
goods
economic resources
5.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
The point where supply and demand are equal.
market price
needs
wants
goods
services
6.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
The value of the next-best alternative that you were noble to choose.
opportunity cost
needs
wants
goods
services
7.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Things that are required in order to live.
needs
wants
goods
services
economic resources
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