4th Intro to Econ-Review

4th Intro to Econ-Review

10th Grade

12 Qs

quiz-placeholder

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4th Intro to Econ-Review

4th Intro to Econ-Review

Assessment

Quiz

History

10th Grade

Medium

Created by

Sonia McGlothlin

Used 6+ times

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12 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the difference between a shortage and scarcity?

shortages can be temporary or long term, but scarcity always exists
a shortage results from rising prices; scarcity from falling prices
there is no real difference 

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

forces people to decide what is most important

shortage
standard of living
scarcity
trade-off

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What doctors and bankers provide

goods
services

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The study of production, employment, prices, and policies on a nationwide scale is called?

Macroeconomics
Microeconomics

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The study of how consumers, workers, and firms interact to generate outcomes in specific markets is called?

Macroeconomics
Microeconomics

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A farmer milking their cows, a cheese factory using he milk to make cheese, and a restaurant using the cheese to make pizza are examples of what in action?

Specialization
Labor Roles
Mass Production
Assembly Lines

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is not a Factor of Production?

Land
Labor
Capital
Cash

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