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Unit 1 Economics Test

Authored by Jonathan Collett

Other, Social Studies

11th - 12th Grade

Used 4+ times

Unit 1 Economics Test
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40 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a desire that can be satisfied by consuming a good or service

Want

Need

Scarcity

Producer

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are things such as food, clothing, and shelter that are necessary for survival

Want

Need

Desire

Consumer

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or False: Wants are unlimited but the resources available to satisfy them are limited

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the study of how people choose to use scare resources to satisfy their wants

Economics

Scarcity

Wants

Needs

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What situation exist when there are not enough resources to meet human wants

Needs

Wants

Scarcity

Economics

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these is NOT a fundamental question of economics

For whom

What to produce

How to produce

When to produce

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a physical object that can be purchased such as food

Good

Service

Consumer

Producer

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