Crash Course Intro to Econ

Crash Course Intro to Econ

12th Grade

10 Qs

quiz-placeholder

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Crash Course Intro to Econ

Crash Course Intro to Econ

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Medium

Created by

Gilbert Velasquez

Used 207+ times

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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economics is

The study of money

The study of wealth

The study of business exchange

The study of choices

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Opportunity Cost can best be described as

How much money your product can be sold for

The money you must pay to the government to produce goods

The value lost of the next best alternative choice you could have made

The money lost by purchasing something instead of making it yourself

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Scarcity is the economic law that needs and wants are ________________ but resources are ________________.

unlimited / limited

limited / unlimited

benefits / costs

costs / benefits

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Good economic decisions are made when the benefits of a choice are greater than the

costs

community

needs

desire

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The opportunity cost of spending on the military are all of the following EXCEPT

more schools

improvements in wifi accessibility

longer summer daylight hours

lower cost public university education

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In order to have everything we could ever want we would need

Republican policies

Democrat policies

unlimited resources

a strong religious base

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In economics, incentives are used to

insure government control of the people

influence the choices people make

insure the poor are taken care of

drive a wedge between the rich and the poor

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