CH01 Intro to Economics Vocaculary
Authored by Joan Kane
Social Studies
11th - 12th Grade
Used 2+ times
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18 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a condition facing all societies because there are not enough productive resources to satisfy peoples unlimited wants
scarcity
productive resources
economics
human resources
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the broad category of human efforts both physical and mental, used to produce goods and services
labor
capital goods
marginal
human resources
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a profit-seeker who develops a new product or process and assumes the risk of profit or loss
human resources
opportunity cost
macroeconomics
entrepreneur
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the study of how people use their scarce resources to satisfy their unlimited wants
microeconomics
economics
economic theory
macroeconomics
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the physical and mental effort used to produce goods and services
labor
productive resources
human resources
natural resources
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the inputs used to produce the goods and services people want
capital goods
productive resources
human resources
natural resources
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the broad category of human efforts both physical and mental, used to produce goods and services
human resources
natural resources
labor
entrepreneur
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