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Econ PreTest

Authored by jerelyn glass-saiz

Business

12th Grade

Used 6+ times

Econ PreTest
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10 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Economics is all about

money

banking

decision making

the stock market

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

There is no such thing as Free Lunch.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A person who starts a new business in a community is called a/an

entrepreneur

manager

bureaucrat

politician

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the USA who determines what goods and services are produced/offered?

Government

Producers

Consumers

Producers and Consumers

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The resources used in the production of goods and services are limited, therefor, society must

Try to obtain additional resources

Reduce their use of resources

Make choices about how to use resources

Produce more products and less services

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

To an economist, the term inflation refers to

Selling air-filled products

a decrease in prices

an increase in prices

a positive growth in our economy

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All of the following are necessary characteristics of money/currency EXCEPT

Divisibility

Durable and portable

Limited Supply

show important historical figures

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