Intro to Econ

Intro to Econ

Assessment

Flashcard

Social Studies

10th - 12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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18 questions

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1.

FLASHCARD QUESTION

Front

What is economics?

Back

The study of how people choose to use limited resources.

2.

FLASHCARD QUESTION

Front

Economics is all about money.

Back

False

3.

FLASHCARD QUESTION

Front

Which of the following is a characteristic of a scarce resource? Scarce resources must be expensive, Scarce resources must be unlimited in quantity, Scarce resources must have only one use, Scarce resources must be desirable

Back

Scarce resources must be desirable

4.

FLASHCARD QUESTION

Front

What is scarcity?

Back

The problem of unlimited wants and limited resources

5.

FLASHCARD QUESTION

Front

"Gold" is an example of which factor of production?

Back

Land

6.

FLASHCARD QUESTION

Front

A pickaxe is an example of which factor of production? Options: Land, Labor, Capital, Entrepreneurship

Back

Capital

7.

FLASHCARD QUESTION

Front

A mine worker is an example of which factor of production?

Back

Labor

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