
Economic Systems
Authored by Hal Ott
Social Studies
9th - 10th Grade
Used 29+ times

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11 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is not included in the study of economics?
Scarce resources
Choice
What people should buy
Opportunity cost
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A new dam is build in Turkey to provide hydroelectric power and a water supply. What is the opportunity costs to the economy of building the dam?
The cost to households and business of consuming the water supply.
The benefits forgone from the other uses of the money used to build the dam.
The cost to consumers of using hydroelectric power.
The money used to pay for the construction and maintenance of the dam.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A firm can produce a number of combinations of 2 goods. It can either produce 500 shnibbles and 300 boggles, or 600 shnibbles and 250 boggles. What is the opportunity cost of producing and extra 100 shnibbles?
100 boggles
250 boggles
50 boggles
the extra wages paid to workers
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In economics, resources are also known as:
workers and machines
raw materials
factors of production
profits
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In which of the following situations would money cease to be a good store of value?
prices of goos and services are falling slowly
high unemployment
prices of good and services are rising rapidly
prices of goods and services are rising slowly
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
All of the following are good characteristics of money except:
it's durable
it's unlimited in supply
it's generally accepted
it's portable
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The basic problem faced by all economies is:
rising prices
unemployment
scarcity of resources
low economic growth
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