
Econ Chpt 1
Authored by Ty Thomas
Social Studies
10th - 12th Grade
Used 11+ times

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15 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The Social Science that describes the factors that determine the production, distribution and consumption of goods and service.
Factors of Production
Scarcity
Opportunity Cost
Economics
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Resources used to make a good or service
Scarcity
Factors of Production
Labor
Economics
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Comprises all naturally occurring resources whose supply is inherently fixed. Natural resources are fundamental to the production of all goods.
Land
Labor
Human Capital
Physical Capital
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Study of economic behavior of employers and employees in response to changing prices, profits, wages, and working conditions
Land
Labor
Human Capital
Physical Capital
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The fundamental human problem of having unlimited human wants in a world of limited resources
Opportunity Cost
Trade-Offs
Economics
Scarcity
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.
Labor
Human Capital
Entrepreneur
Physical Capital
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A balance achieved between many desirable but incompatible features; a compromise where ALL OTHER ITEMS were given up.
Opportunity Cost
Trade-Offs
Scarcity
Thinking at the Margin
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