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Unit 1 Review

Authored by Kristen Wells

Social Studies

9th - 12th Grade

Used 23+ times

Unit 1 Review
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The 3 types of resources are

land, capital, human

human, natural, capital

entrepreneurship, labor, capital

labor, natural,human

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The factors of production are used to

create social change

encourage efficient use of resources

make all goods and services

none of the above

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Peoples wants are greater than their resources can be described as

human capital

scarcity

supply and demand

the circular flow model

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Education, training, and skills are examples of

labor

land

human capital

physical capital

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The study of economics is correctly defined as

how best to supply unlimited wants with scarce resources

how to predict when a recession will occur

how to manage the stock market

how to produce and distribute money

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All of the following can lead to a shift of the PPC besides

change in technology

change in currency

change in resources

change in trade

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Entrepreneurs play what role in the production of goods and services?

act as primary laborer

purchase land and sell it for profit

put the other factors of production together to produce

none of the above

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