
Economics Final Review
Authored by Zelda Sendejo
Social Studies
12th Grade
Used 26+ times

AI Actions
Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...
Content View
Student View
50 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Paradox of value refers to the
high value of an essential item and the low value of a nonessential item.
high value of a nonessential item and the low value of an essential item.
contradiction of what consumers want and what they need.
contradiction between gross domestic product and market value
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The most comprehensive measure of a nation’s wealth is provided by its
gross domestic product.
TINSTAAFL rating.
product possibilities curve.
capital goods.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following statements best describes the purpose of the production possibilities curve?
It predicts the future production of a nation.
It identifies trends in production.
It shows which products are most profitable.
It identifies all possible combinations of goods and services an economy can produce.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following descriptions best explains the meaning of opportunity cost?
the initial cost of starting a new business
the cost of business failure
the cost of choosing one alternative over another
the risk associated with producing a new item
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The efficient use of scarce resources leads to an increase in
productivity.
investment.
scarcity.
capital.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The study of economics involves
explaining how people deal with scarcity.
studying how things are made, bought, sold, and used.
explaining how incomes are earned and how jobs are created.
all of the above.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these statements describes a disadvantage of a traditional economy?
Everyone knows his or her role.
New ways of doing things are encouraged.
New ways of doing things are discouraged.
Difficult economic decisions are made by the state.
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever
or continue with

Microsoft
%20(1).png)
Apple
Others
Already have an account?
Similar Resources on Wayground
45 questions
USBN Geografi SMA
Quiz
•
12th Grade
46 questions
AP Macro: MPC and the Multiplier
Quiz
•
11th - 12th Grade
53 questions
Honors Civics Chapter 3 Review
Quiz
•
9th - 12th Grade
50 questions
Citizenship Questions
Quiz
•
12th Grade
51 questions
Adolescence, Adulthood and Aging
Quiz
•
10th - 12th Grade
54 questions
Psych 1- Research & Approaches
Quiz
•
11th - 12th Grade
55 questions
AP GoPo Unit 2 Part 2: Interactions Among Branches - Executive
Quiz
•
10th - 12th Grade
50 questions
Flags of the World!
Quiz
•
6th - 12th Grade
Popular Resources on Wayground
15 questions
Fractions on a Number Line
Quiz
•
3rd Grade
20 questions
Equivalent Fractions
Quiz
•
3rd Grade
25 questions
Multiplication Facts
Quiz
•
5th Grade
29 questions
Alg. 1 Section 5.1 Coordinate Plane
Quiz
•
9th Grade
22 questions
fractions
Quiz
•
3rd Grade
11 questions
FOREST Effective communication
Lesson
•
KG
20 questions
Main Idea and Details
Quiz
•
5th Grade
20 questions
Context Clues
Quiz
•
6th Grade
Discover more resources for Social Studies
15 questions
SBAC Practice HSS26_Vasquez
Quiz
•
9th - 12th Grade
16 questions
SBAC Practice HSS26
Quiz
•
9th - 12th Grade
39 questions
Gov: Unit 2 Test Spring 2026
Quiz
•
12th Grade
25 questions
Unit 6: Economic Measurements Vocabulary
Lesson
•
12th Grade
36 questions
Unit 5 Key Terms
Quiz
•
11th Grade - University
7 questions
Japanese Imperialism
Lesson
•
9th - 12th Grade
15 questions
Unit 6A WWI Vocab
Quiz
•
12th Grade
10 questions
Erik Erikson's Stages of Human Development
Quiz
•
9th - 12th Grade