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Econ- Unit 1 & 2 Review Game

Authored by Bryant Blackmon

Social Studies

12th Grade

Used 74+ times

Econ- Unit 1 & 2 Review Game
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36 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is economics?

The study of how individuals and societies satisfy their unlimited wants with limited resources

The way in which a society uses its scarce resources to satisfy its people’s unlimited wants

A situation that exists when there are not enough resources to meet human wants

The economic resources needed to produce goods and services

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Are modern day economic systems “pure” or “true” to the 3 (traditional, command, market) main economic systems? (Why or why not?)

Yes, because they do not use a mixture or variety of characteristics set by each economic system.

Yes, because they do use a mixture or variety of characteristics set by each economic system

No, because they do not use a mixture or variety of characteristics set by each economic system.

No, because they do use a mixture or variety of characteristics set by each economic system

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is scarcity?

The study of how individuals and societies satisfy their unlimited wants with limited resources

The way in which a society uses its scarce resources to satisfy its people’s unlimited wants

A situation that exists when there are not enough resources to meet human wants

The economic resources needed to produce goods and services

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Scarcity can affect:

Choices

Wants

Needs

All of the above

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Is scarcity and shortage the same thing?

No, scarcity always exist and shortages may be temporary

Yes, because shortages are scarcity of resources

Yes, because scarcity drives economics.

No, because businesses use to many resources

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All economic systems answer 3 basic questions.

What time?, Where?, At what rate?

What to produce?, How to produce it?, Who is it for?

When?, How?, What?

Where is it being made?, Who is making it?, What is being produced?

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The economic resources needed to produce goods and services.

Goods

Land

Resources

Factors of Production

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