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Econ: Chapter 1 Review

Authored by Derrick Mulder

Other

9th - 12th Grade

Used 6+ times

Econ: Chapter 1 Review
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23 questions

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1.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

People have

limited wants and needs

unlimited wants and needs

2.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

Resources can include, but are not limited to

money

time

labor

water

3.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Resources are

limited

unlimited

4.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Because resources are limited, we have a condition called

utility

paradox of value

scarcity

wealth

5.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Because of scarcity, we're forced to carefully make

change

options

choices

doughnuts

6.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

The difference between needs and wants can be summed up in one word:

survival

morals

7.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

Goods are products that are

tangible

durable

intangible

non-durable

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