Economics - Chapter 1 - Vocab

Economics - Chapter 1 - Vocab

9th - 12th Grade

20 Qs

quiz-placeholder

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Economics - Chapter 1 - Vocab

Economics - Chapter 1 - Vocab

Assessment

Quiz

Business

9th - 12th Grade

Hard

Created by

Wayground Content

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

factors of production

The land, labor and capital resources used to produce goods and services

The financial resources required for marketing

The technology used to enhance production efficiency

The management strategies employed in a business

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

consumption

The process of using a product or service

The act of producing goods

The study of economic systems

The analysis of market trends

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

entrepreneurship

The process of managing a large corporation

The imagination, innovative thinking, and management skills needed to start and operate a business

A method of investing in stocks and bonds

The study of economic theories and principles

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

economics

A social science that studies how people, acting individually and in groups, decide to use scarce resources to satisfy their wants

The study of how to maximize profits in a business

A branch of mathematics that deals with financial calculations

The analysis of historical events and their impact on society

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

capital

The financial assets used to fund a business

The buildings, tools, and machines people create and use to produce final goods and services

The total value of all goods and services produced in a country

The amount of money a company has in its bank account

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

benefits

The losses incurred from a decision

The gains that result when a choice is made

The risks associated with a choice

The alternatives available when making a decision

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

microeconomics

The study of individual consumers and businesses.

The analysis of large-scale economic factors.

The examination of government policies on the economy.

The exploration of global trade and finance.

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