Review Unit 1-2

Review Unit 1-2

Assessment

Flashcard

Social Studies

12th Grade

Practice Problem

Hard

Created by

J Upshaw

FREE Resource

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50 questions

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1.

FLASHCARD QUESTION

Front

Why do all societies face a trade-off for every decision?

Back

Resources are scarce

2.

FLASHCARD QUESTION

Front

The concept of opportunity cost would no longer be relevant if

Back

the supply of all resources was unlimited

3.

FLASHCARD QUESTION

Front

What measure shows how well the economy is doing over time?

Back

Gross Domestic Product

4.

FLASHCARD QUESTION

Front

What is NOT included in a country's GDP? Options: Consumer Spending, Business Spending, Government Spending, Net Exports, Net Imports

Back

Net Imports

5.

FLASHCARD QUESTION

Front

What measure shows what percentage of the eligible workers do not have jobs?

Back

Unemployment Rate

6.

FLASHCARD QUESTION

Front

When people can't find a job because of a lack of demand for their skills or type of labor, this is called?

Back

Structural Unemployment

7.

FLASHCARD QUESTION

Front

When people can't find a job because the economy is not doing well due to a recession, this is called?

Back

Cyclical Unemployment

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