Economics 11A-C
Authored by Kassie Lechthaler
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8th - 12th Grade
Used 40+ times
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33 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The selection of an action or an item from a list of possible options
Incentive
Opportunity Cost
Price
Choice
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the amount of goods or services consumers are willing to buy at a certain price?
Incentive
Demand
Consumption
Supply
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which statement best describes the relationship between supply and demand?
The only time supply is effected by the demand is when the government controls the product.
The only way to increase the demand for a product is to increase the supply.
Price is determined when supply equals demand.
If the supply of a product is reduced, the demand for it is also reduced.
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the inability to satisfy all wants at the same time?
Scarcity
Production
Resources
Competition
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The combining of resources to MAKE a good or a service?
Scarcity
Production
Resources
Competition
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Factors of production used in making of a good or service?
Scarcity
Production
Resources
Competition
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The using of a good or service. Consumer choice and price determine what is consumed.
Scarcity
Production
Resources
Competition
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