Ch. 1 What is Economics

Ch. 1 What is Economics

KG - University

35 Qs

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Ch. 1 What is Economics

Ch. 1 What is Economics

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History

KG - University

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Created by

Dan Regan

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35 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

work that is performed for someone

good
service
human capital
market

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

location or other mechanism that allows buyers and sellers to exchange a certain economic product

land
capital
market
sservice

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

an item that is economically useful or satisfies an economic want

good
service
need
value

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a measure of the amount of output produced by a given amount of inputs in a specific period of time

paradox of value
wealth
trade-off
productivity

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the sum of the skills, abilities, health, and motivation of people

human capital
paradox of value
economics
production

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Diagram representing maximum combinations of goods and/or services an economy can produce when all   resources are fully employed

cost-benefit analysis
production possibilities frontier
factors of production
paradox of value

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A good that will not last three years

durable good
non-durable good
utility
capital

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