Search Header Logo
  1. Resource Library
  2. Social Studies
  3. Economics
  4. Introduction To Economics

Introduction to Economics

Authored by Andrew Hoffman

Social Studies

8th - 10th Grade

Used 80+ times

Introduction to Economics
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

19 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Tools used by people at work like assembly lines, or a hammer, or a ladder are called _______________.

Labor

Capital

Revenue

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The study of how people seek ways to meet their wants and needs by making choices is called?

Economics

Philosophy

Capitalism

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Name for the risk-taking businessmen who start businesses and are one of the factors of production.

Land

Labor

Capital

Entrepreneurship

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

What factor of production does this picture represent?

Land
Capital
Labor
Entrenprenour

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

It is the situation in which available resources, or factors of production, are finite, whereas wants are infinite

Shortage

Opportunity Cost

Scarcity

Choice

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

It is your second choice-what you give up when you make a decision.

Choice

Opportunity Cost

Scarcity

Shortage

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The fact that there are limited amounts of goods and services to meet unlimited wants is called:

Scarcity

Shortage

Surplus

Economics

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?