
Economics Outcome A
Authored by Laura Wood
Social Studies
11th - 12th Grade

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23 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To learn a society’s alternate ways of using resources, you might study their
Trade-offs
Factors of Production
Opportunity Costs
Production Possibilities Curve
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are three factors of production?
Land, Labor, Money
Physical Capital, Human Capital, Entrepreneurship
Land, Labor, Capital
Entrepreneurship, Scarcity, Shortage
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Any tools that are made by humans and used to create other goods and services are called
Capital
Labor
Services
Production
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why do we experience scarcity?
Because some goods cost more than others.
Because all resources are scarce.
Because some goods are wants and others are needs.
Because some people want to have more goods than others.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The most desirable alternative given up as the result of a decision is known as the what?
Trade-off
Opportunity Cost
Marginal Analysis
Underutilization
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The three basic economic questions include what to produce, how to produce and...?
How many employees will be needed?
Who will produce our goods and services?
Who will consume the goods and services?
How much will the goods and services cost?
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT one of the three levels of economics?
Macro
Micro
Individual
Mini
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