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Econ Basics

Authored by Brandon Shields

Professional Development

9th - 12th Grade

Used 1+ times

Econ Basics
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17 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The study of how people use their limited resources to meet their unlimited wants and needs is the study of

Economics

Economy

Scarcity

Capital

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In economics, the main problem is the lack of resources or the constant need of more resources. This is know as,

Economics

Economy

Scarcity

Economic Transfers

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Individuals can make small choices in their every day lives, leading to a study of economics know as

Microeconomics

Macroeconomics

Economic Flow

All of the above

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

You entire life you (personally) will always be a __________ and must deal with the issue of __________.

Producer: economic flow

Consumer; Scarcity

Laborer; Scarcity

Distributor: economic flow

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Opportunity Cost is best defined as

the value of the next best alternative that is given up due to the choice you made 
The price you pay to purchase something 
The benefit you gain by making a decision 
The amount of debt you take on by making a decision 

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is a need?

clothes
car
job
smart phone

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

How do you satisfy your unlimited wants in a world of limited resources?

by making more money
by making choices
by stealing
by setting a budget

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