Chapter 1 Economics Review
Authored by Tyler Billman
Social Studies
12th Grade
Used 97+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
each worker learns one task very well
economic interdependence
factor market
specialization
consumerism
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
quality of life
standard of living
factor market
gross domestic product
capital good
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
represents the range of production possibilities
standard of living
production possibilties curve
consumerism
gross domestic product
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Where all of the factors of production are bought and sold
factor market
specialization
capital good
scarcity
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
a fundamental problem in every society
specialization
scarcity
consumerism
nondurable goods
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
measures a country's output and economic health
capital good
factor market
gross domestic product
specialization
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
manufactured good used to produce other goods or services
capital good
specialization
nondurable goods
economic interdependence
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