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Intro to Basic Economics

Authored by Janay Turner

Social Studies

9th - 12th Grade

Used 8+ times

Intro to Basic Economics
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10 questions

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1.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

Factors of production are also known as

resources

consumer goods

consumer services

factors of demand

2.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

Physical capital consists of

manufactured goods, like pizza.

human energy

human development

manufactured resources

3.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

Human capital consists of

entrepreneurship

labor

the value of the workforce

the amount of currency held by people.

4.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

Roads, ports, internet networks, airports are examples of

human capital

infrastructure

land

labor

5.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

The basic problem in economics is

allocating scarce resources with infinite wants

deciding between wants and needs

how much money you have

how to allocate your time.

6.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

You can choose the beach or the park. You choose the beach. What is your trade-off?

the beach

the park

the beach and the park

either the beach or the park

7.

FILL IN THE BLANK QUESTION

20 sec • 1 pt

The value of your highest foregone alternative is called

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