Economics - Chapter 1 - Vocab

Quiz
•
Business
•
9th - 12th Grade
•
Hard
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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