
Unit #1 Standard #1
Quiz
•
Social Studies
•
12th Grade
•
Easy
Adam Yurgionas
Used 588+ times
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30 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The definition of Scarcity is...
An unlimited amount of resources to meet limited wants and needs
A limited amount of resources to meet unlimited wants and needs.
When people use time and energy to create events
a city where individuals commit themselves to unlimited wants and needs
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Economics is...
a study of the government
a study of how business, people, and governments use limited resources to make choices
the process of keeping financial accounts
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The 4 Factors of Production are:
Land, Money, Enterprise & Buildings
Labor, Money, Raw materials, & Land
Land, Labor, Needs, & Wants
Land, Labor, Capital, & Entrepreneurship
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Land is...
the natural resources used to provide goods & services
the people involved in providing goods and services
the raw materials used to provide goods and services
the bringing together of the other factors of production to provide goods and servies
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
All of the following are factors of production EXCEPT
land
money
labor
capital
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following refers to the resource of land?
bus drivers
iron ore
money
machinery
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Why does scarcity exist?
limited wants, but unlimited resources
the four factors of production are not available at the same time
government control of the market
limited resources, but unlimited wants
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