Economics 1-1

Economics 1-1

12th Grade

14 Qs

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Economics 1-1

Economics 1-1

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Quiz

Other

12th Grade

Medium

Created by

Kelley Ashlock

Used 21+ times

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14 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Essential for survival 

wants
needs
goods
services 

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Something you desire, but is NOT necessary for survival.

Needs 
Wants 
goods 
Services 

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Actions or activities one performs for another 

Needs 
Wants 
Services 
Goods 

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Physical objects someone produces 
Examples: clothes, food, video games 

Needs 
Wants 
Goods 
Services 

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Limited amounts of goods and services available to meet unlimited wants 

Scarcity 
Economics 
Shortages 
Entrepreneurs 

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Study of how people seeks to satisfy their needs and wants by making choices 

Scarcity
Economics 
Shortages 
Entrepreneurs 

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Situation in which consumers want more of a good or service than producers are willing to make available at a particular price 

Scarcity 
Economics
Shortages 
Entrepreneurs 

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