What is Economics

What is Economics

12th Grade

41 Qs

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Assessment

Quiz

Social Studies

12th Grade

Medium

Created by

Coach Young

Used 16+ times

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41 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why do all societies have to make decisions about how resources will be used?

People are greedy

There are not enough resources for those who want them

Resources are too expensive for most people

Because there is a huge gap between the rich and poor

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If all resources are being used, what would have to be produced less of if more houses are built?

Cars

Candy

Computers

Cabinets

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is NOT a question all societies have to answer due to scarce resources?

When will products be produced?

How will products be produced?

What products will be produced?

Who will gets access to the resources and the products they produce?

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is NOT a scarce resource?

Labor

Trees

Time

Candy

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Scarcity is defined as a limited supply of resources and...

limited wants for those resources

unlimited resources

limited resources

unlimited wants for available resources

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which two products use the same scarce natural resources?

Gasoline and Electricity

Gasoline and plastic

Apples and glass

Glass and gasoline

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why do we have to make production choices about available resources?

Too many resources for the demand

Limited wants

Unlimited resources

Scarcity

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