Midterm Exam Review
Social Studies
12th Grade
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35 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Not enough resources to meet human wants
Shortage
Scarcity
Famine
Underutilization
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The father of modern economics
James Madison
Thomas Jefferson
Alexander Hamilton
Adam Smith
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which is NOT one of the 4 factors of production?
Land
Labor
Money
Entrepreneurship
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which economic system is based off of self-interest?
Traditional
Command
Market
Mixed
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which economic system is most common today?
Traditional
Command
Market
Mixed
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which economic system is based on competition?
Traditional
Command
Market
Mixed
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which economic system has the goal of survival?
Traditional
Command
Market
Mixed
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