Economy Part 1
Authored by Derek Washburn
Social Studies
9th - 12th Grade
Used 10+ times
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14 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Wants
Things that you must have to survive.
Things that you really would like to have.
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which one is NOT one of the 4 factors of production?
Land
Labor
Weather
Capital
Entrepreneurs
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Needs
Things that you must have to survive.
Things that you would really like to have.
4.
OPEN ENDED QUESTION
2 mins • Ungraded
Describe to me in your own words the difference between Macroeconomics and Microeconomics.
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5.
FILL IN THE BLANKS QUESTION
30 sec • 1 pt
When a good or service is NOT available or is in shortage, what economic term do we use to describe this?
(a)
6.
OPEN ENDED QUESTION
1 min • Ungraded
Give me one "opportunity cost" for being with me on this Zoom today.
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OFF
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Free Market Economy
An economy that is planned with no competition.
An economy that is completely controlled by the government with no private property or ownership.
An economy that is completely free of government influence and is privately owned by people. Buyers and sellers act in their own interest and with completion and profit driving the prices.
An economy that is driven by supply and demand but is often influenced by the government with incentives, taxes and subsidies.
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