
Economics Team 5
Authored by Diego Hernández
Business
12th Grade
Used 5+ times

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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Study of how societies use scare resources to produce goods and services and distribute them among different individuals.
Economics
Scarcity
Economic efficiency
Microeconomics
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The studied determination of prices of land, labor, capital and inquired strengths and weakness of the market mechanism. What concept is?
Economic efficiency
Macroeconomics
Microeconomics
Scarcity
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Most effective use of societies resources in satisfying people wants and needs.
Efficiency
The post hoc fallacy
Fallacy of composition
Normative economics
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Is concerned in the overall performance of the economy, how total the investments and consumption determined.
Fallacy of composition
The post hoc fallacy
Macroeconomics
Positive economics
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Are commodities or services that are used to produce goods and services.
Inputs
Outputs
Land
Labor
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Useful goods or serveries result from the production process and either consumed or employed in further production.
Outputs
Land
Labor
Capital
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Natural resources
Land
Labor
Capital
Outputs
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