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Economic Fundamentals Quiz

Authored by Randy Denman

9th - 12th Grade

Economic Fundamentals Quiz
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26 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which of the following is NOT a scarce good?

Water

Air

Clothing

Electricity

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which of the following is NOT one of the 3 Economic questions?

What to produce

Whom to produce for

How to produce

When to produce

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A __________________ takes risk by responding to consumer sovereignty and combining resources

Command Economy

Market Economy

Entrepreneur

"Productive" Employee

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

By designating positions on a football team (QB, RB, O-Line, etc.) a coach is taking advantage of...

Entrepreneurship

Incentive

Divisions of Labor

Productivity

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Investment in ___________________ leads to long term growth.

Consumer Goods

Human Capital

Capital Goods

Human Capital and Capital Goods

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The average yearly income of citizens in a country

Communism

Per Capita Income

Taxes

Economics

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Something we desire but that is not necessary for survival

Want

Need

Good

Service

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Microsoft

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