Unit 1 - Economic Theory Ultimate Challenge
Quiz
•
Social Studies
•
11th - 12th Grade
•
Medium
Gil Stange
Used 12+ times
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46 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Unlimited wants and limited resources.
scarcity
opportunity cost
self-interest
profit motive
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The next best option that you give up when you make a choice.
scarcity
opportunity cost
private property
customer sovereignty
3.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
The basic economic questions:
What to produce?
How to produce?
For whom to produce?
When to produce?
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Economic decisions are made as they have been made in the past.
Traditional economy
Command economy
Market economy
Mixed economy
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Economic decisions are made by the government or other central authority.
Traditional economy
Command economy
Market economy
Mixed economy
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Economic decisions are made by buyers and sellers.
Traditional economy
Command economy
Market economy
Mixed economy
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Some economic decisions are made by buyers and sellers and some are made by the government.
Traditional economy
Command economy
Market economy
Mixed economy
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