
Econ Final Review-Vocab
Authored by Kayle Gerchman
Social Studies
11th Grade
Used 4+ times

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90 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The definition of Scarcity is...
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A _____________ is a person who starts a business.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What you give up by choosing one option over another.
opportunity cost
opportunity benefit
marbury vs madison
marginal cost
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A good that lasts three years or more when used on a regular basis is called a
5.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
The apparent contradiction between the high value of a nonessential item and the low value of an essential item was referred to in the book, Wealth of Nations by Adams Smith in 1776, as what?
6.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
The capacity to be useful and provide satisfaction is called what?
7.
MULTIPLE CHOICE QUESTION
45 sec • 5 pts
A good intended for final use by individuals. (example: clothes)
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