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18 Qs

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Emerline Henry

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18 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

Scarcity causes economic problem. Which of the following statements is true about scarcity?

Scarcity is our inability to satisfy all of our wants.
Scarcity problem arises because our wants are greater than resources available.
The poor and the rich both face scarcity.
All of the above.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The human ability to produce a good or service: Talents, skills, physical labor, etc. the work that goes into the production of a good or service.

Human resources or Labor

Land

Capital

Entrepreneurship

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The local power plant is under what factor production?

Labor or Human resources

Capital

Land

Entrepreneurship

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

This is basically the ideas that go into the process of creating a good or providing a service.

Capital

Entrepreneurship

Land

Labor

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Rizal Park is under what factor of production?

Land

Capital

Natural Resource

Entrepreneurship

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

An untapped deposit of natural gas is under what factor of production?

Natural Resource

Capital

Labor

Land

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Goods made by people to be used specifically to produce goods and services: Tools, office equipment, roads, factories, etc.

Labor

Land

Entrepreneurship

Capital

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