Econ Final

Econ Final

11th - 12th Grade

44 Qs

quiz-placeholder

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Econ Final

Econ Final

Assessment

Quiz

Social Studies

11th - 12th Grade

Medium

Created by

Ben Smith

Used 18+ times

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44 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Manufactured goods needed to produce other goods and services are called

nondurable goods.

capital goods.

Gross Domestic Product (GDP).

consumer goods.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The dollar value of all final goods, services, and structures produced within a country’s borders in a single year is

its standard of living.

financial capital.

a cost-benefit analysis.

Gross Domestic Product (GDP).

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economics is the study of

numbers

people’s choices

how people try to satisfy their unlimited wants through careful use of relatively scarce resources.

the mind

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is NOT a factor of production?

land

capital

labor

wages

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What makes a durable good unique?

it is also a service

everything is durable

it lasts at least 3 years when used regularly

all of the above

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A market economy

does not provide for everyone's basic needs.

limits the choices of goods and services available.

permits extensive government intervention.

offers a high degree of certainty for its workers.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The economic system where you are born into your role is a

traditional system

command system

market system

mixed system

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