Which of the following best defines economics?

Unit 1 Economics

Quiz
•
Social Studies
•
12th Grade
•
Medium
Patricia Albin
Used 224+ times
FREE Resource
25 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How people create their own products
The study of how individuals exchange goods and services
People use their scarce resources to satisfy unlimited wants
How governments create products
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following statements correctly defines the term entrepreneur?
A person who improves an existing product
Person who develops a new product
A person who tries to earn profit
All answers apply
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is not an example of a capital resource?
The knowledge people gain to increase their productivity
The creation of a new hybrid fruit
The computers used in school
The distribution center of Lowe's
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When you choose a night with friends over studying for your final exam, what is your opp. cost?
The time you spent with your parents
The time you spent with your friends
The possibility of earning a higher grade
The possibility of disappointing your friends
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is opportunity cost?
The value of the best alternative
The value of what you cannot recover
The value of your time
The value of cost benefit analysis
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If a PPF shifts outward, this means?
Economic growth
Economic decline
Greater labor force
Lower labor force
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does point Y represent on the graph?
Efficient production
Economic growth
Inefficient production
Unattainable production
Create a free account and access millions of resources
Similar Resources on Quizizz
25 questions
Unit #1 Quiz: Basics of Economics

Quiz
•
11th - 12th Grade
20 questions
Unit 1 Review

Quiz
•
12th Grade
20 questions
Unit 1 Econ assessment

Quiz
•
12th Grade
30 questions
Unit 1: What is Economics?

Quiz
•
11th - 12th Grade
20 questions
Thinking Like an Economist

Quiz
•
11th - 12th Grade
21 questions
Economics AQA - Y1 - week 1-3

Quiz
•
11th - 12th Grade
20 questions
Economics Chapter 1

Quiz
•
12th Grade
20 questions
Unit 1 Intro to Economics Test

Quiz
•
12th Grade
Popular Resources on Quizizz
15 questions
Multiplication Facts

Quiz
•
4th Grade
25 questions
SS Combined Advisory Quiz

Quiz
•
6th - 8th Grade
40 questions
Week 4 Student In Class Practice Set

Quiz
•
9th - 12th Grade
40 questions
SOL: ILE DNA Tech, Gen, Evol 2025

Quiz
•
9th - 12th Grade
20 questions
NC Universities (R2H)

Quiz
•
9th - 12th Grade
15 questions
June Review Quiz

Quiz
•
Professional Development
20 questions
Congruent and Similar Triangles

Quiz
•
8th Grade
25 questions
Triangle Inequalities

Quiz
•
10th - 12th Grade
Discover more resources for Social Studies
40 questions
Week 4 Student In Class Practice Set

Quiz
•
9th - 12th Grade
40 questions
SOL: ILE DNA Tech, Gen, Evol 2025

Quiz
•
9th - 12th Grade
20 questions
NC Universities (R2H)

Quiz
•
9th - 12th Grade
25 questions
Triangle Inequalities

Quiz
•
10th - 12th Grade
65 questions
MegaQuiz v2 2025

Quiz
•
9th - 12th Grade
10 questions
GPA Lesson

Lesson
•
9th - 12th Grade
15 questions
SMART Goals

Quiz
•
8th - 12th Grade
45 questions
Week 3.5 Review: Set 1

Quiz
•
9th - 12th Grade