SSEF1 Fundamentals Summative Assessment

SSEF1 Fundamentals Summative Assessment

12th Grade

25 Qs

quiz-placeholder

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SSEF1 Fundamentals Summative Assessment

SSEF1 Fundamentals Summative Assessment

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Medium

Created by

Deborah Heckwolf

Used 19+ times

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25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In economics, rational decisions occur when
                                                             SSEF2b

suppliers lower their prices to increase demand
marginal benefits of an action equal or exceed the marginal costs
a budget is used for spending and saving decisions
command economies answer the three basic questions

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is a human resource that Ms. Johnson could use for her art gallery?
SSEF1b

Light fixtures to help display the artwork.
A security system to protect the artwork.
Knowledge of trends in modern art.
A series of paintings by a prominent local artist.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is a fundamental questions every society must answer?
SSEF1a

What goods and services are to be produced?
How are the goods and services to be produced?
Who will get the goods and services that are produced?
All of the above

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A and B both wash cars and change oil. Currently, each man washes and changes oil by himself, but the process takes lots of time. they would MOST LIKELY improve their efficiency if
SSEF2b

A & B wash a car and chang eoil together
A washes car while B changes oil
A washes B car while B washes A's car
A and B reduce the number of cars they wash

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Susan offers to trade her old iPod for Claudia's cell phone and Claudia accepts. Assuming both products work perfectly, we can conclude that
SSEF3b

Claudia is now happier than Susan.
neither party has gained because the exchange was fraudulent
both people have gained because the exchange was voluntary and non-fraudulent
Susan places the same value on cell phones as she does for iPods

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which provides the greatest incentive for entrepreneurs to take risks?
SSEF1c

prices
inflation
profits
interest

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A production possibilities curve shows
SSEF6d

the technological changes that improve production
choices a person makes between items
all of society’s resources
the combination of goods that can be produced with a set of resources

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