Bodamer Economics Ch 1 Vocabulary

Bodamer Economics Ch 1 Vocabulary

11th - 12th Grade

15 Qs

quiz-placeholder

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Bodamer Economics Ch 1 Vocabulary

Bodamer Economics Ch 1 Vocabulary

Assessment

Quiz

Social Studies

11th - 12th Grade

Practice Problem

Easy

Created by

Dave Bodamer

Used 45+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This is the study of how people seek to satisfy their needs and wants by making choices.

Economics

Needs

Wants

Capital

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Actions or activities that one person performs for another.

Services

Economics

Labor

Trade-off

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Physical objects such as shoes and shirts.

Goods

Capital

Physical Capital

Services

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Natural resources that are used to make goods and services.

Land

Capital

Factors of Production

Physical Capital

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All human made goods that are used to produce other goods and services.

Physical Capital

Factors of Production

Goods

Services

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A situation in which goods or service are not available.

Shortage

Scarcity

Economics

Physical Capital

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Limited quantities of resources to meet unlimited wants.

Scarcity

Shortage

Trade-offs

Opportunity Cost

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