Final - Economics

Final - Economics

Assessment

Flashcard

Social Studies

10th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

Student preview

quiz-placeholder

76 questions

Show all answers

1.

FLASHCARD QUESTION

Front

How would the magnesium ore, from which ground magnesium is made, be classified as a factor of production? Options: Capital, Land, Entrepreneurship, It is not a factor of production, it is a product.

Back

Land

2.

FLASHCARD QUESTION

Front

Paul is experiencing a situation where only a limited amount of dealers and collectors have the classic sports car he wants. What is this situation called?

Back

scarcity

3.

FLASHCARD QUESTION

Front

Which factor of production would you consider a lawn mower? Options: Land, Labor, Capital, Entrepreneur

Media Image

Back

Capital

4.

FLASHCARD QUESTION

Front

Which of the following is NOT one of the 3 Economic questions?
What to produce, Whom to produce for, How to produce, When to produce

Media Image

Back

When to produce

5.

FLASHCARD QUESTION

Front

In a ______________ economy the "3 economic questions" are answered by a central authority.

Media Image

Back

Command

6.

FLASHCARD QUESTION

Front

Which of the following BEST explains why entrepreneurs take the risk of starting a business?
Options:
to make profits,
to have the freedom to make their own choices,
to make their own hours,
because the government backs them financially

Media Image

Back

to make profits

7.

FLASHCARD QUESTION

Front

Competition and free enterprise are most common in which type of economic system?

Media Image

Back

market

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?