Fundamentals of Economics
Authored by JASON CALVERT
Social Studies
11th - 12th Grade
Used 13+ times
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54 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The development of skills in a specific kind of work is...
Wants
Scarcity
Voluntary Exchange
Specialization
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Desires that can be satisfied by consuming a good or service are...
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The limited nature of society's resources.
Specialization
Scarcity
Voluntary Exchange
Wants
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The study of scarcity and choice is…
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Basic requirements for human survival are called…
Wants
Needs
Marginal Benefits
Marginal Costs
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The principle that people may decide what, when, and how they want to buy and sell is called…
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The most desirable alternative given up as the result of a decision is…
Opportunity Cost
Entrepreneur
Natural Resources
Factors of production
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