Economic Principles and Systems Review

Economic Principles and Systems Review

9th - 12th Grade

23 Qs

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Economic Principles and Systems Review

Economic Principles and Systems Review

Assessment

Quiz

Social Studies

9th - 12th Grade

Medium

Created by

William Gaughan

Used 8+ times

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23 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

_____________ is the study of how individuals and groups use limited resources to fulfill unlimited wants and needs.

Scarcity

Economics

Trickle Down

Equilibrium

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The relationship between unlimited wants with limited resources is known as _________________.

economics

scarcity

supply side economics

supply and demand

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What people give up when they make a choice to have one want satisfied.

Ice Cream

Scarcity

Opportunity Cost

Supply and Demand

4.

OPEN ENDED QUESTION

3 mins • Ungraded

There are three types of resources. Name them.

Evaluate responses using AI:

OFF

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The earth, wind and air are all examples of _________________ resources.

Natural

Capital

Human

Opportunity

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

____________ resources are the materials and equipment used to produce good and services.

Human

Social

Capital

Natural

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

_____________ resources are the labor, or the human efforts, used to produce goods and services.

Social

Societal

Human

Capital

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