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Economics Final Exam

Authored by JEREMY STEELE

Social Studies

12th Grade

Used 86+ times

Economics Final Exam
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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is Economics?

The study of how people manage scarce resources

The study of money

The study of how money works

The study of the stock market

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who is the maker of goods?

Producer

Consumer

Scarcity

Supply Chain

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who is the purchaser of goods?

Consumer

Producer

Economist

Supply Chain

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is Socialism?

Government spreads wealth and controls the market.

Social distancing

Government controls nothing

A USA based model

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is NOT a factor of production?

Land

Labor

Economic benefit

Capital

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an interest rate?

The cost of doing business.

Sales tax

A factor of production

The percentage you pay on a loan.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a simple definition of supply?

Price increases - supply increase

Stocking of shelves

The thought of choice between items

When supply goes up demand goes up.

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