Economics Final Exam

Economics Final Exam

Assessment

Flashcard

Social Studies

12th Grade

Hard

Created by

Quizizz Content

FREE Resource

Student preview

quiz-placeholder

45 questions

Show all answers

1.

FLASHCARD QUESTION

Front

What is the basic economic problem?

Back

Scarcity

2.

FLASHCARD QUESTION

Front

All of the following are the three basic economic questions EXCEPT:
What to produce?
How will it be produced?
For whom will it be produced?

Back

Why to produce?

3.

FLASHCARD QUESTION

Front

Land, Labor, Capital and Entrepreneurship are collectively called;

Back

The factors of production

4.

FLASHCARD QUESTION

Front

The benefits offered to encourage people to act in certain ways.

Back

Incentives

5.

FLASHCARD QUESTION

Front

The benefit and satisfaction gained from the use of a good or service

Back

Utility

6.

FLASHCARD QUESTION

Front

The alternative that you give up when you make an economic choice.

Back

Trade off

7.

FLASHCARD QUESTION

Front

The value of the next best alternative or what you give up by choosing one alternative over another.

Back

Opportunity cost

Create a free account and access millions of resources

Create resources
Host any resource
Get auto-graded reports
or continue with
Microsoft
Apple
Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?