Econ Final Review

Econ Final Review

Assessment

Flashcard

Social Studies

11th - 12th Grade

Practice Problem

Hard

Created by

Wayground Content

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43 questions

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1.

FLASHCARD QUESTION

Front

The basic economic problem is

Back

resources are scarce

2.

FLASHCARD QUESTION

Front

What is the economic term for the things you sacrifice when you make a decision?

Back

trade-off

3.

FLASHCARD QUESTION

Front

Which is the next best alternative to the decision you make, the one you miss out on?

Back

opportunity cost

4.

FLASHCARD QUESTION

Front

A resource provided by mother nature that is used by a business

Back

land

5.

FLASHCARD QUESTION

Front

Which of the following would be an example of labor?
ideas for how to design a business,
time spent building the walls for a new store,
vegetables grown to be used in food at a restaurant,
hammers and nails used in building a new store

Back

time spent building the walls for a new store

6.

FLASHCARD QUESTION

Front

Which of the following would be an example of human capital? ideas for how to design a business, time spent building the walls for a new store, vegetables grown to be used in food at a restaurant, hammers and nails used in building a new store

Back

ideas for how to design a business

7.

FLASHCARD QUESTION

Front

Which of the following would be an example of physical capital?
ideas for how to design a business,
time spent building the walls for a new store,
vegetables grown to be used in food at a restaurant,
hammers and nails used in building a new store

Back

hammers and nails used in building a new store

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