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Tutorial : Introduction to Economics

Authored by Norazlina Hanim Shamsudin

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University

Used 200+ times

Tutorial : Introduction to Economics
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23 questions

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1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Scarcity is a problem ___________Scarcity is a problem ___________

measured by the amount of goods available.

of the poor, but not the rich.

because human wants are unlimited while resources are limited.

only in industrialized economies.

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Human wants ___________

are unfilled only in the poorer countries of the world

can be completely satisfied by advancing technology.

can never be fully satisfied.

only apply to necessities.

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

People are forced to make choices because of _____________

unlimited wants and unlimited resources.

limited wants and unlimited resources.

unlimited wants and limited resources.

limited wants and limited resources.

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which of the following is not an example of a factor of production?

A forest.

A computer program.

A labor leader.

Dollars.

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The sun is an example of ____________

a natural resource.

capital.

labor.

none of the above

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

An economics textbook is an example of __________

capital.

labor.

a natural resource.

entrepreneurship.

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The creative ability of persons to combine and direct resources to produce new products is known as ___________

economizing.

entrepreneurship.

value judgment.

product sensitivity

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