Search Header Logo

Quiz 1 Economics

Social Studies

11th - 12th Grade

Used 2+ times

Quiz  1 Economics
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What best describes a want?

An unnecessary object, not needed to live.

A commodity that fulfills a desire

An expensive object

A derived need

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When economists say that resources are scarce, it means that they are what?

Limited

Lacking

Overflowing

Rare

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Allocation and scarcity is a problem because people have unlimited ____________.

problems

wants and needs

resources

desires

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economics is the study of ______________

Money

How to get rich

Consequences and Punishments

Choices

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Hammers, pencils, and computers are examples of ______________ .

Land

Labor

Capital

Entrepreneurship

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Teachers, construction workers, and mechanics are examples of ______________ .

Land

Labor

Capital

Entrepreneurship

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Our resources are limited and our wants are unlimited is _______________________.

Scarcity

Opportunity Cost

Capital

Entrepreneurship

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?