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Economics Final Exam Review

Authored by Sheridan Kaatz

Social Studies

10th - 12th Grade

120 Questions

Used 23+ times

Economics Final Exam Review
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1.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

When we sacrifice one thing to obtain another

Consumer

Producer

Opportunity Cost

Trade Off

2.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

A person, company, or country that makes, grows, or supplies goods for sale

Consumer

Producer

Opportunity Cost

Trade Off

3.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

The fundamental economic problem of having seemingly unlimited human wants and needs in a world of limited resources.

Scarcity

Producer

Opportunity Cost

Trade Off

4.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

The value of what you gave up for the choice you made.

Scarcity

Producer

Opportunity Cost

Trade Off

5.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

A person who purchases goods and services for personal use.

Consumer

Producer

Opportunity Cost

Trade Off

6.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Designing, launching, and running a business.

Land

Labor

Capital

Entrepreneur

7.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Productive activity for wages.

Land

Labor

Capital

Entrepreneur

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