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Econ Exit Ticket 3/2

Authored by Juan Sandoval

Mathematics

10th - 12th Grade

Econ Exit Ticket 3/2
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10 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The BEST explanation of why there will always be scarcity is because

 People and their tools are inefficient
Governments create scarcity to keep people wanting more
 While people's' wants are unlimited, resources are limited

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The four factors of production are land, capital, labor, and financing

True
False

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Materials used by humans such as water, forests, animals, fuel, etc.

Labor

Wants

Needs

Natural Resources

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When a company controls all the production of a good or service. - No competition

Scarcity

Profit

Monopoly

Entrepreneur

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Money invested in a business; property and equipment used to produce a good or service

Labor

Needs

Profit

Capital

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The income a business has left after paying its expenses

Capital

Labor

Profit

Capitalism

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is an INCENTIVE?

Wages for labor at a construction job sit

Passing a certification exam as a job requirement

Buying a candy bar during break

A college receiving monetary bonuses for a high graduation rate

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