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Fundamental Concepts (Fall 21)

Authored by Matt Harrell

Social Studies

9th - 12th Grade

Used 5+ times

Fundamental Concepts (Fall 21)
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8 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the basic economic problem that always exists?

Scarcity

Production

Consumption

Supply

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Command economies are more concerned with Equity(everyone has the same) than Freedom.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT one of the three basic economic questions?

What to produce

How to Produce

When to Produce

For whom to produce

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is MOST difficult to achieve in a pure free-market or capitalist system?

Freedom

Efficiency

Equity

Growth

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All of the following will help countries have economic growth EXCEPT

Funding new renewable resources

Increased Education

New Technology grants

Relying on non renewable resources

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Human and physical capital is used as a productive resource. Which is an example of Human Capital?

Hammer

Saw

Calculator

CDL (Commercial Drivers License)

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Barter, lottery, rationing are all examples of ?

Increasing Productivity

New Technology

Allocating Resources

Safety Net for Poor

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