2025 Economics Terms Quiz#1 (1-10)

2025 Economics Terms Quiz#1 (1-10)

12th Grade

10 Qs

quiz-placeholder

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2025 Economics Terms Quiz#1 (1-10)

2025 Economics Terms Quiz#1 (1-10)

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Easy

Created by

Abie Ramirez

Used 521+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A condition facing all societies because there are not enough productive resources to satisfy people's unlimited wants.

Economics

Trade-Off

Choice

Scarcity

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The study of how people use their scarce resources to satisfy their unlimited wants.

Scarcity

Economics

Microeconomics

Macroeconomics

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The inputs used to produce the goods and services that people want.

Human Resource

Entrepreneur

Productive Resource

Capital

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The broad category of human efforts, both physical and mental, used to produce goods and services.

Productive Resource

Capital Resource

Trade-Off

Human resource

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The physical and mental effort used to produce goods and services.

Labor

Capital

Land

Scarcity

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A profit-seeker who develops new product or process and assumes the risk of profit or loss.

Profiteer

Entrepreneur

Salesman

Venture Capitalist

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

So-called "gifts of nature" used to produce goods and services; includes both renewable and exhaustible resources.

Productive Resource

Human Resource

Capital Resource

Natural resources

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