Economics Ch 16 Test Review
Authored by Michael Claunch
Social Studies
7th Grade
Used 23+ times
AI Actions
Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...
Content View
Student View
13 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a want?
clothing
food
shelter
vacations
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which factor is most likely to cause the supply of a product to decrease?
a decrease in consumer demand
a decrease in the price of resources used to make the product
an increase in the number of consumers
an increase in the number of suppliers
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The loss of four years of income resulting from the decision to go to college is the
marginal cost.
opportunity cost.
total cost.
variable cost.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which factor has the MOST significant influence on the quantity supplied of any product?
expectations of consumers
new technology
number of consumers
cost of producing the product
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which is an example of how to produce?
building new roads
making weapons
providing services for citizens
regulating the amount of pollution factories can produce
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a characteristic of a market economy?
The government limits the quantity of products made.
The government limits the variety of products made.
People have the freedom to choose from a variety of products.
Prices are inflexible.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the fixed costs of producing dresses are $1,000 and the variable costs are $500, then the total cost is
$500.
$1,000.
$1,500.
$4,500.
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports
Continue with Google
Continue with Email
Continue with Microsoft
or continue with
%20(1).png)
Apple
Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?
