Economics Unit 1 - Paternostro

Economics Unit 1 - Paternostro

12th Grade

25 Qs

quiz-placeholder

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Economics Unit 1 - Paternostro

Economics Unit 1 - Paternostro

Assessment

Quiz

Social Studies

12th Grade

Medium

Created by

Alex Paternostro

Used 17+ times

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25 questions

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1.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is economics?

The study of money
The study of how people choose to use limited resources
The study of governments and citizens
The study of the past

2.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Which of the following is NOT one of the three questions of economics?

What to produce?
How to produce?
For whom to produce?
When to produce?

3.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is scarcity?

The study of how people choose to use limited resources
The problem of unlimited wants and limited resources
The problem of limited wants and unlimited resources
The problem of having too few options

4.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is the value of the next-best alternative when you make a trade-off?

Fruit snacks
Opportunity Cost
Scarcity
Second-Best

5.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

In which economic system to businesses alone answer the three economic questions?

Market economy
Command economy
Traditional economy
Mixed economy

6.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

In which economic system does the government alone answer the three economic questions?

Market Economy
Mixed Economy
Command Economy
Traditional Economy

7.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

In which economic system does the government alone answer the three economic questions?

Market Economy
Mixed Economy
Command Economy
Traditional Economy

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