Econ 1A Test Fundamentals 2019

Econ 1A Test Fundamentals 2019

8th - 12th Grade

45 Qs

quiz-placeholder

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Econ 1A Test Fundamentals 2019

Econ 1A Test Fundamentals 2019

Assessment

Quiz

Social Studies

8th - 12th Grade

Easy

Created by

Michelle Ashley

Used 132+ times

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45 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Economics is how _____ are managed in the production, exchange, and use of goods and services.

revenue
republic
resources
recurring

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Juan realizes that if he studies an extra hour for his test, he will score five points higher. For each extra hour spent studying, he is getting one hour less sleep. When deciding whether to spend an additional hour studying or sleeping, Juan is engaged in what economic activity?

bartering

marginal analysis

market transactions

trade negotiations

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In college, people can major in a wide variety of fields including medicine, journalism, business, and design among others. This is an example of the concept of

scarcity

specialization

elastic demand

progressive taxation

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economics growth is often tied to investment in machinery, new technology, and education of the population. This is because

the only way to measure economics growth is to observe changes in these factors

investment in these items are the sole determinant of output

all of these items improve capital

these items lead to a greater productivity of inputs

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When two people engage in trade, both sides will benefit if the trade meets which two requirements?

voluntary and non-fraudulent

non-voluntary and fraudulent

free and international

rational and marginal

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A __________________ takes risk by responding to consumer sovereignty and combining resources

Command Economy

Market Economy

Entrepreneur

"Productive" Employee

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What is the "land" resource when making a pizza?

The Delivery Boy

The Oven

The Pizza Shop Owner

The Dough/ Cheese/ Sauce

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