The three economic questions

The three economic questions

10th - 12th Grade

8 Qs

quiz-placeholder

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The three economic questions

The three economic questions

Assessment

Quiz

Social Studies

10th - 12th Grade

Hard

Created by

Michael Abell

Used 36+ times

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8 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Of the three major economic questions, which of the following is the best example of a "What?" question? 
Should automobiles be produced using workers or robots? 
Should higher-income or lower-income people buy SUVs?
Should we make faster microprocessors or pest-resistant corn? 
Should migrant workers or domestic workers be used to pick grapes?

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When Fresh Express Salads decides to mechanically pick all of its lettuce, it directly answers the ___ question. 
what
how
for whom
where

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The economic choices made by individuals, businesses, and governments and the interactions of those choices answer which three major economic questions?
What?, How?, and Why?
What?, How?, and For Whom?
Why?, How much?, and At what price?
At what price?, What?, and Why?

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When Ford decides to produce more hybrid cars that run on both gas and electricity, it directly answers the _____ question. 
what
how
for whom
why

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When unskilled teens earn less than college graduates, society answers the ____ question.
how
what
for whom
why

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The definition of Scarcity is...
An unlimited amount of resources to meet limited wants and needs
A limited amount of resources to meet unlimited wants and needs.
When people use time and energy to create events
a city where individuals commit themselves to unlimited wants and needs

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is NOT a scarce resource?

Labor

Trees

Time

Candy

8.

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