The Big Picture of Economics

The Big Picture of Economics

10th Grade

25 Qs

quiz-placeholder

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The Big Picture of Economics

The Big Picture of Economics

Assessment

Quiz

Social Studies

10th Grade

Hard

Created by

John Robinson

FREE Resource

25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The study of how people seek ways to meet their wants and needs by making choices is called?

Economics

Philosophy

Capitalism

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

What factor of production does this picture represent?

Land

Capital

Labor

Entrenprenour

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

It is the situation in which available resources, or factors of production, are finite, whereas wants are infinite

Shortage

Opportunity Cost

Scarcity

Choice

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

It is your second choice-what you give up when you make a decision.

Choice

Opportunity Cost

Scarcity

Shortage

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

This means that the government should not interfere in the marketplace.

Laissez Faire

Capitalism

Communism

Socialism

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The fact that there are limited amounts of goods and services to meet unlimited wants is called:

Scarcity

Shortage

Surplus

Economics

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When you make a choice, you often have to give up other options...those things are called the...

Opportunity Cost

Missed Opportunities

Misused Resources

Scarce Options

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