Introduction to Economics Questions
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
1. ___ are physical objects someone produces while ___ are actions that a person performs.
wants; goods
goods; services
services; needs
needs; wants
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
8. Gold, iron, diamonds, and natural gas would all be included in:
land
labor
capital
all of the above
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
15. Which of the following is involved in economics?
individuals
businesses
governments
all of the above
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
12. Which of the following economic systems has the most government influence?
traditional
capitalism
socialism
communism
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
5. A limited amount of goods and services cannot meet our unlimited needs and wants. This is known as:
deficit
debt
capital
scarcity
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
6. Which of the following is NOT one of the factors of production?
time
capital
land
labor
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
13. Under capitalism, how is it determined who gets what is produced?
customs
competition
cooperation
commands
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