
Econ. 1.1 1.2 ACC.
Authored by Jon Abbey
Social Studies
10th Grade
DOK 1 covered
Used 3+ times

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8 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
While the wants and needs of consumers are unlimited, productive resources are limited, forcing consumers and producers to make choices. This concept is known as
Borrowing
Surplus
Scarcity
budgeting
Tags
DOK 1
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the factors of production?
Land, labor, capital, entrepreneurship
Land, needs, wants, capitals
Rent, wages, interest, profit
Land, labor, scarcity, entrepreneurship
Tags
DOK 1
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
George decides to go back to school to earn an advanced degree. Which productive resource is most directly affected by George’s decision?
Entrepreneurship
Human capital
Natural resources
Physical capital
Tags
DOK 2
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
People’s education, skills/abilities, health, and motivation are all part of _________ capital.
Physical
Natural
Financial
Human
Tags
DOK 1
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which topic would a macroeconomist most likely study?
Supply and demand
Production costs
Inflation
Labor markets
Tags
DOK 2
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which description below best describes the relationship between opportunity costs and trade-offs?
Trade-offs are the opposite of an opportunity cost.
Trade-offs decrease the opportunity cost of any decision.
Opportunity costs occur when trade-offs are made.
The opportunity costs of and trade-off is constant.
Tags
DOK 2
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When one choice is made over another, the next best use of time, money, and/or resources is called a/an
rational decision
opportunity cost
favorable outcome
efficient outcome
Tags
DOK 1
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