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Economics Retrieval

Authored by Carol J Negranza

Social Studies

9th - 12th Grade

Used 35+ times

Economics Retrieval
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40 questions

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1.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is economics?

The struggle from limited resources versus unlimited wants.

The study of scarcity.

When you exchange one thing for something else.

What you sacrifice when choose something else.

2.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is scarcity?

The study of economics.

The study of limited resources versus unlimited wants.

tools

When you sacrifice one thing for another.

3.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is a trade-off?

When you sacrifice one thing for another.

What you give when you choose something else.

Mental or physical work.

When two countries exchange goods and services.

4.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is an opportunity cost?

Limited resources versus unlimited wants.

When you sacrifice one thing for another.

What you give when you choose something else.

When the three basic economic questions get answered by buyers and sellers.

5.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What are the four factors of production?

Land, labor, capital and employees.

Capital, labor, entries and land.

Entrepreneur, land, labor, and capital.

Labor, capital, entrpreneur, and tools.

6.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is land?

Tools

Mental or physical work.

What you build on.

Natural resources from the Earth.

7.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is labor?

Mental or memory work.

One of the three basic economic questions.

Tools.

Mental or physical work.

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