Economics - Foundations Review

Economics - Foundations Review

9th - 12th Grade

13 Qs

quiz-placeholder

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Economics - Foundations Review

Economics - Foundations Review

Assessment

Quiz

Social Studies

9th - 12th Grade

Practice Problem

Hard

Created by

Ian Striz

Used 79+ times

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13 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which answer describes the fact that human wants are unlimited and resources are scarce?

Economic Growth

Economic freedom

What, How, and For Whom?

The fundamdental economic problem

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a free-enterprise system (capitalism) which of the following decides What will be produced?

Consumers

Entrepreneurs

Government

Price

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a command which of the following decides What will be produced?

Consumers

Entrepreneurs

Government

Price

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a free-enterprise system (capitalism) which of the following decides How goods and services will be produced?

Consumers

Entrepreneurs

Government

Price

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a command which of the following decides How goods and services will be produced?

Consumers

Entrepreneurs

Government

Price

6.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Media Image

The production possibilities curve (frontier) helps us to identify which of the following? Select all that apply.

Total productive capacity (Full employment)

Opportunity cost

Price

What, How, and For Whom

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a characteristic of a free-enterprise system (capitalism)?

Economic Freedom

Voluntary Exchange

Economic Security

Private Property Rights

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