Economics: Chapter 1 Review
Authored by Deda Rush
Specialty
10th - 12th Grade
Used 271+ times
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28 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Economics is about making choices.
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An example of a positive economic statement is "The U.S. unemployment rate is 5.8%."
True
False
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Markets are the means by which buyers & sellers carry out exchange.
True
False
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Goods & Services are bought and sold in resource markets.
True
False
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
You should ignore sunk cost in making economic choices.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Your opportunity cost depends on your alternatives.
True
False
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Productive resources are also called factors of production.
True
False
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