Economics Unit 1 Quiz

Economics Unit 1 Quiz

10th - 12th Grade

27 Qs

quiz-placeholder

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Economics Unit 1 Quiz

Economics Unit 1 Quiz

Assessment

Quiz

Social Studies

10th - 12th Grade

Practice Problem

Medium

Created by

Alan Green

Used 25+ times

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27 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 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

1 min • 1 pt

Land includes...

The "gifts of nature" or natural resources not created by human effort.

the tools, equipment, and factories used in production of goods and services

people with all their efforts and abilities

individuals who start a new business or bring a product to market.

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Capital refers to...

The "gifts of nature" or natural resources not created by human effort.

people with all their efforts and abilities

the tools, equipment, and factories used in production of goods and services

individuals who start a new business or bring a product to market.

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Entrepreneurs are...

people with all their efforts and abilities

individuals who start a new business or bring a product to market.

The "gifts of nature" or natural resources not created by human effort.

the tools, equipment, and factories used in production of goods and services

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A herd of cattle is an example of ...

Land
Labor
Entrepreneur
Capital

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A bulldozer is an example of...

Land
Labor
Entrepreneurs
Capital

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Your Mail lady is an example of...

Land
Labor
Entrepreneurs
Capital

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