POBF Econ Concepts 5.01D
Quiz
•
Business
•
9th - 12th Grade
•
Practice Problem
•
Easy
Lisa Gillespie
Used 9+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Into what two categories can wants be divided?
Unlimited and limited
Unlimited and economics
Economic and noneconomic
Unlimited and noneconomic
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Seeing a movie at a theatre would be considered a(n) __________ want
economic
unlimited
limited
noneconomic
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Friendship would be considered a(n) __________ want.
economic
limited
unlimited
noneconomic
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Water and air are examples of __________ resources, while people are considered to be __________ resources.
natural, human
physical, mental
capital, human
mental, natural
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
In economics, capital goods include
labor and management
mental and physical work
buildings and equipment
trees and water
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Why are resources considered limited?
Everyone has them, and they change
There are not enough available for everyone to have as much of them as desired
There are so many that people must decide which ones to choose at any one time.
Entrepreneurs do not invest enough of them
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A gap between unlimited wants and limited resources creates
economics
resources
wants
scarcity
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