Y8 Economics Revision
Authored by Jonathan Langley
Social Studies
8th Grade
Used 147+ times
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30 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The study of economics is primarily concerned with:
demonstrating that advanced economies are better than less developed nations
determining the most fair distribution of society's output.
keeping private businesses from losing money.
choices/decisions that are made due to lack of resources
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What do economists mean by the term "scarcity"?
Having too few or too little of resources
Having too many resources
Having just enough resources
Having the correct amount of resources
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these is an example of land from the factors of production?
Sheep
Hammer
Factory worker
Business owner
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A crane operator would be which of the factors of production?
Land
Labour
Capital
Enterprise
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A computer is which of the factors of production?
Land
Labour
Capital
Enterprise
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which factor of production means the ability to combine the other three to make a good or service?
Land
Labour
Capital
Enterprise
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A lawyer is an example of which of the factors of production?
Land
Labour
Capital
Enterprise
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