Economics Final

Economics Final

Assessment

Flashcard

Social Studies

9th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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44 questions

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1.

FLASHCARD QUESTION

Front

What is the central problem with which the study of economics is concerned?

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Back

Scarcity

2.

FLASHCARD QUESTION

Front

Which is NOT one of the three basic economic questions? For whom to produce? How to produce? What to produce?

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Back

Where to produce?

3.

FLASHCARD QUESTION

Front

Which point is an impossible level of productivity? Options: Point B, Point E, Point G, Point F

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Back

Point F

4.

FLASHCARD QUESTION

Front

What is the opportunity cost when production moves from point C to point A?

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Back

30 wheat

5.

FLASHCARD QUESTION

Front

Which point on the graph represents an efficient use of resources? Options: Point E, Point B, Point F, Point G

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Back

Point B

6.

FLASHCARD QUESTION

Front

Which of the following is NOT one of the productive resources? Land, Labor, Human capital, Bartered item

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Back

Bartered item

7.

FLASHCARD QUESTION

Front

One function of money is to allow comparisons between goods. For example, it would be difficult to compare "apples to oranges" if we could not say that apples cost $1.59 per pound, while oranges cost $0.99 per pound. This shows that money can be used as a:

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Back

Unit of account

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