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Economic Literacy

Authored by Gil Stange

Social Studies

9th - 12th Grade

Used 6+ times

Economic Literacy
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7 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

To be considered scarce, a resource or good must be both ______________ and _______________.

unlimited and undesirable

unlimited and desirable

limited and desirable

limited and undesirable

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Studies firms, markets, products, and consumer and producer behavior.

economics

microeconomics

macroeconomics

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Studies GDP, inflation, unemployment, growth, and national economic policy.

economics

microeconomics

macroeconomics

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Unlimited wants and limited resources.

marginal analysis

scarcity

opportunity cost

economics

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Studies the choices people make when they use scarce resources to improve their situations.

economics

microeconomics

macroeconomics

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The next best alternative that you give up when you make a choice or decision.

marginal analysis

economics

scarcity

opportunity cost

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Comparing the costs and benefits of an additional unit of consumption or production.

marginal analysis

opportunity cost

scarcity

economics

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