Economics Test: Original DO NOT EDIT

Economics Test: Original DO NOT EDIT

10 Qs

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Economics Test: Original DO NOT EDIT

Economics Test: Original DO NOT EDIT

Assessment

Quiz

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Created by

Mary Lazzari

Used 9+ times

FREE Resource

10 questions

Show all answers

1.

OPEN ENDED QUESTION

30 sec • Ungraded

What are the three basic economic questions that every economic system must address?

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2.

OPEN ENDED QUESTION

30 sec • Ungraded

What is economics?

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3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The choices all societies must make about production are driven by:
capitalism.
price systems.
scarcity.
total cost.

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Which factor is most likely to cause the supply of a product to decrease?
a decrease in consumer demand
a decrease in the price of resources used to make the product
an increase in the number of consumers
an increase in the number of suppliers

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Which of the following will happen when the federal government spends more than it collects in revenues?
The federal budget will show a deficit.
The federal budget will show a surplus.
The federal government will decrease sales taxes.
State governments will help decrease the national debt.

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What does Holmes think about natural resources?
They are less important than human resources.
They are more important than human resources.
They are not being destroyed.
They are not important.

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What does Holmes believe is the greatest tragedy in America?
the destruction of human ingenuity
the destruction of human resources
the destruction of natural resources
the destruction of people’s abilities

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