
Econ - Chpt 1.1 Vocab
Authored by Paul Walker
Social Studies
11th - 12th Grade
Used 2+ times

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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A good that last more than three years when used on a regular basis is
Capital good
Consumer Good
Durable Good
Nondurable Good
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A term that expresses an item's worth in dollars and cents.
Utility
Value
Wealth
Non of the above
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A useful, tangible item such as a car, book or MP3 player.
Service
Value
Good
Need
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The capacity to be useful and provide satisfaction is called
Wealth
Value
Need
Utility
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The condition that results from society not having enough resources to produce all the things people would like to have is called
Frustration
Tough luck
Scarcity
Non of the above
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Food, clothing, and shelter are known as
Wants
Needs
Goods
All of the above
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The monetary value of all final goods produced within a coubtry's border in a 12 month period is called
Imports
Gross Domestic Product
Value
Non of the above
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