
Econ- Unit 1 & 2 Review Game
Quiz
•
Social Studies
•
12th Grade
•
Medium
Bryant Blackmon
Used 71+ times
FREE Resource
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36 questions
Show all answers
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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