Fundamentals Test

Fundamentals Test

12th Grade

28 Qs

quiz-placeholder

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Fundamentals Test

Fundamentals Test

Assessment

Quiz

Social Studies

12th Grade

Easy

Created by

Wesley Sweat

Used 5+ times

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28 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The fundamental problem of Economics: Unlimited wants, limited resources.

Opportunity Cost

Trade Offs

Scarcity

Marginal Benefit

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

ALL alternatives given up when making a decision.

Scarcity

Opportunity Cost

Trade Offs

Rational Decision Making

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The SECOND best alternative given up when making a decision.

Opportunity Cost

Trade Offs

Scarcity

Rational Decision Making

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The factors of production (land, labor, capital, and entrepreneurship) are also known as this:

Trade Offs

Environmental Resources

Natural Resources

Productive Resources

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Receiving the training necessary to perform a job is building what?

Entrepreneurship

Physical Capital

Human Capital

Labor

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The Coca Cola factory is considered what factor of production?

Land

Labor

Physical Capital

Human Capital

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A new breakthrough in computer technology allows food to be grown faster and more abundantly. This would cause PPC to shift to the________.

Right

Left

No Shift

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