
Chapter 1 Economics
Authored by Jacob Cunningham
Social Studies
1st - 12th Grade
Used 20+ times

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16 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Tools we use to make products
capital resources
natural resources
human resources
entrepreneurs
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Individuals who come up with a new idea for a good or service, then they make it a reality
resource
human resources
entrepreneur
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
What is a need?
something you want
Something you must have to live
market economy
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
what is a want?
Something you would like to have but don't need to live
something you must have to live
food
shelter
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
________ is the most basic economic problem.
opportunity
scarcity
market economy
capital
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which of the following is a natural resource?
television
trees
plastic
rubber
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
When I choose one item over another because I cant afford both, this is called an
scarcity
market economy
opportunity cost
trade-off
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