Economics Final Exam Review
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11th - 12th Grade
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58 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The highest valued alternative given up as a result of making a choice.
Trade Off
Opportunity Cost
Trade
Human Resources
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The physical and mental efforts people use to create goods and services.
Natural Resources
Human Resources
Capital Resources
Available Resources
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The buildings, tools, and machines people create and use to produce final goods and services.
Natural Resources
Human Resources
Capital Resources
Available Resources
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Unaltered gifts of nature like soil, minerals, timber, and fresh water.
Natural Resources
Human Resources
Capital Resources
Available Resources
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
______ means that an inequality exists between wants and the resources available to satisfy them.
Entrepreneurship
Scarcity
Capital
Land
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The study of the economy as a whole
Macroeconomics
Microeconomics
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The study of individual consumers and businesses
Macroeconomics
Microeconomics
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