Basics of Economics
Authored by Germosel Productions
Social Studies
10th - 11th Grade
Used 59+ times
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21 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Scarcity means:
Too much of something you wanted
The exact amount of something you wanted
Not enough of something you wanted
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an economic want?
Things people need in order to survive.
Things people would like to have.
Things people don't want anymore.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If 5 people want an ice-cream, is there a scarcity?
Yes, there is a scarcity.
No, there is not a scarcity.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If 6 people want a pencil, is there a scarcity?
Yes, there is a scarcity.
No, there is not a scarcity.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If 8 people want a stuffed animal, is there a scarcity?
Yes, there is a scarcity.
No, there is not a scarcity.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
TRUE or FALSE: We can have everything that we want because we have unlimited resources.
TRUE
FALSE
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Capital refers to...
The "gifts of nature" or natural resources not created by human effort.
people with all their efforts and abilities
the tools, equipment, and factories used in production of goods and services
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