Ch1. What is Economics
Authored by Matt Burleson
Social Studies
10th - 12th Grade
Used 12+ times
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25 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
something essential to survival
Need
Want
Good
Service
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
something that people desire but that is not necessary for survival
Need
Want
Good
Service
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The physical object someone produces
Need
Want
Good
Service
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the action or activities that one person performs for another
Need
Want
Good
Service
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The principle that limited amounts of goods and services are available to meet unlimited wants
Scarcity
Economics
Shortage
Entrepreneur
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The study of how people seek to satisfy their wants and needs by making choices.
Scarcity
Economics
Shortage
Entrepreneur
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A person who decides how to combine resources to create goods and services
Entrepreneur
Factors of Production
Land
Labor
Capital
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