2023 Practice Fall  FINAL Economics

2023 Practice Fall FINAL Economics

Assessment

Flashcard

Social Studies

12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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47 questions

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1.

FLASHCARD QUESTION

Front

The situation in which unlimited wants exceed the limited resources available to fulfill those wants.

Back

Scarcity

2.

FLASHCARD QUESTION

Front

The highest-valued alternative that must be given up to engage in an activity.

Back

Opportunity Cost

3.

FLASHCARD QUESTION

Front

________________ is the study of how people decide what they want and what they are willing to pay or give in order to get it.

Back

Economics

4.

FLASHCARD QUESTION

Front

Panic At The Disco is on tour! Tickets have almost sold out. Since supply of tickets is low, what will likely happen to the price?

Back

Increase

5.

FLASHCARD QUESTION

Front

Soil, minerals, air, water, and coal are all examples of

Back

natural resources

6.

FLASHCARD QUESTION

Front

How do you satisfy your unlimited wants in a world of limited resources? Options: by making more money, by making choices, by stealing, by setting a budget

Back

by making choices

7.

FLASHCARD QUESTION

Front

Is this shelter a want or a need?

Media Image

Back

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