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Apex Econ- Intro quiz

Authored by Jessica Cruz

Social Studies

12th Grade

Used 2+ times

Apex Econ- Intro quiz
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A cell phone is classified as

a need

a want

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The main issue in the field of Economics is solving the problem of

resources

scarcity

greed

labor

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An oven, a mixer, and a baking pan at a bakery are example of which factor of production?

land

labor

capital

entrepreneur

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do entrepreneurs have to be willing to accept when starting a business?

loans

lack of government funds

risk

lack of opportunity

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Scarcity is created by the situation of unlimited wants and

unlimited needs

limited resources

unlimited funds

limited time

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Trees, rubber, and oil are all part of which factor of production?

land

labor

capital

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The knowledge and skills that a person brings to the job is known as which factor of production?

education

experience

skilled knowledge

human capital

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