Economics Final Exam

Economics Final Exam

10th - 12th Grade

60 Qs

quiz-placeholder

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Economics Final Exam

Economics Final Exam

Assessment

Quiz

Social Studies

10th - 12th Grade

Medium

DOK 1, DOK 2, Factors of Production

+11

Standards-aligned

Created by

Michael Dion

Used 35+ times

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60 questions

Show all answers

1.

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

Factors of Production

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the production of loaves of bread, which best represents the factor 'land'?

The flour used in the dough

The retailer who sells the bread

The oven used to bake the bread

The entrepreneur who started the company

Tags

DOK 1

Factors of Production

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the person who takes the initiative to create or start a company, often risking their own money, called?

Entrepreneur

Human capital

Natural resources

Physical capital

Tags

DOK 1

Factors of Production

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Due to scarcity you must make decisions, when you make a decision what is your next best alternative called?

Scarcity

Trade-offs

Opportunity costs

Microeconomics

Tags

DOK 1

Opportunity Cost & Tradeoffs

5.

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

Factors of Production

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Due to scarcity you must make decisions, when you make a decision what are ALL of the possible alternative decisions you could have made called?

Scarcity

Trade-offs

Opportunity costs

Microeconomics

Tags

DOK 1

Opportunity Cost & Tradeoffs

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to marginal analysis when should you make a decision?

the decision is lawful.

when the costs outweigh the benefits

the producer makes a profit.

when the benefits outweigh the costs

Tags

DOK 1

Marginal Analysis

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