2023 Econ U1 KTerms
Quiz
•
Social Studies
•
12th Grade
•
Practice Problem
•
Medium
Erasmo Vazquez Rios
Used 78+ times
FREE Resource
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23 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is NOT an example of a need?
Water
Food
Car
House
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Scarcity is BEST defined as...
A temporary lack of something.
The idea that all resources are finite.
Being scared of something... BOO!
A city that is scared.
Unlimited resources.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Of the following, which is NOT a want?
Cell phone
Car
House
Education
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Economics is...
the study of making choices.
resources are limited and scarce.
the study of choosing how to satisfy our needs and wants.
All of the above.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Goods can be...
any tangible object one can buy and take home.
groceries one buys at a supermarket.
clothes you buy.
All of the above.
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The four resources in economics are...
land, labor, capital, and entrepreneurship.
land, labor, resources, and entrepreneurship.
machines, labor, capital, and entrepreneurship.
sector, labor, capital, and entrepreneurship.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The Production Possibility Graph displays the concept of
scarcity.
opportunity cost.
leverage.
profit.
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