Economic Decisions and Systems
Authored by Eltoncia Anthony
Business
9th - 12th Grade
Used 40+ times
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23 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
____________ are essential, while ___________ just add to the quality of life.
Goods, services
Needs, wants
Products, services
Wants, needs
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
True or False?
Purchasing and consuming goods and services is how you satisfy your needs and wants.
True
False
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Needs and wants are ______________, while our resources are _____________.
satisfied, unsatisfied
limited, unlimited
unlimited, limited
necessary, unnecessary
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which of the following is NOT an economic resource?
Natural Resource
Capital Resource
Human Resource
Monetary Resource
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which of the following is a capital resource?
Water
Labor
Buildings
Animals
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
True or False?
The basic economic problem is that we have unlimited needs and wants, but we have limited resources.
True
False
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
True or False?
Scarcity means not having enough resources to satisfy every need.
True
False
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