
Scarcity & PPF
Authored by Branham Daniels
Social Studies
12th Grade
Used 112+ times

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15 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Adam Smith, in 'Wealth of Nations,' argued that people acting in their own self interest is ____________ for the economy.
good
bad
not always bad
he doesn't say
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The fact that there are not enough resources to meet the needs of each individual person is known as.
Supply
Demand
Scarcity
None of these
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which of these is NOT an example of a scarce resource
Air
Food
Time
Money
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of Economic Models
To make people do math
To measure and help simplify a complex world
Models were created for fun
None of these
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
What are the 4 Factors of Production?
People, Buildings, Land, Scarcity
Scarcity, Supply, Demand, Opportunity Cost
None of these
Land, Labor, Capital, Technology
6.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
What is the difference between Normative and Positive Statements? Select all that apply.
One of Normal and the other is not.
One can be tested
One is Positive and One is Negative
One is an opinion
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
ceteris peribus
everything else is equal
nothing is equal
supply is greater than demand
unlimited wants
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