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1.1 Consumer Choice and Demand

Authored by Nick Ryan

Other

11th Grade - University

Used 38+ times

1.1 Consumer Choice and Demand
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22 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

(insert word) is the study of how individuals and society choose to allocate scarce resources.

Demand
Economics
Commerce
Scarcity

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A want is something we desire, whereas a need is something that is...

Needed to for survival
Required for survival
Needed

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a limited means?

Time
Money
Skills
Honesty

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Strongly held beliefs or opinions are known as...

Identities
Religion
Values

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An acronym for the factors that influence values is...

TIM
TIME
PRIM
PRIME

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Scarcity refers to what?

A situation where demand meets supply
A situation where demand exceeds supply
A situation where supply exceeds demand

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Wants are things we  need for survival

True
False

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