Econ Final Review

Econ Final Review

11th - 12th Grade

43 Qs

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Econ Final Review

Assessment

Quiz

Social Studies

11th - 12th Grade

Medium

Created by

Shannon Singleton

Used 44+ times

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43 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The basic economic problem is

too many resources

resources are scarce

government won't take action

finding ways to make profit

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the economic term for the things you sacrifice when you make a decision?

trade-off

scarcity

decisions at the margin

opportunities at the margin

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is the next best alternative to the decision you make, the one you miss out on?

scarcity

opportunity at the margin

decision at the margin

opportunity cost

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A resource provided by mother nature that is used by a business

capital

land

production

labor

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following would be an example of labor?

ideas for how to design a business

time spent building the walls for a new store

vegetables grown to be used in food at a restaurant

hammers and nails used in building a new store

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following would be an example of human capital?

ideas for how to design a business

time spent building the walls for a new store

vegetables grown to be used in food at a restaurant

hammers and nails used in building a new store

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following would be an example of physical capital?

ideas for how to design a business

time spent building the walls for a new store

vegetables grown to be used in food at a restaurant

hammers and nails used in building a new store

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