N. Economics

N. Economics

9th Grade

15 Qs

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N. Economics

N. Economics

Assessment

Quiz

Social Studies

9th Grade

Medium

Created by

Jennifer Miller

Used 101+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image
A system by which people in a society make decisions about how to use their resources to produce goods and services

Economy

Factors of Production

Want-Satisfaction Chain

Opportunity Cost

Scarcity

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image
The resources needed to create a good or service

Economy

Factors of Production

Want-Satisfaction Chain

Opportunity Cost

Scarcity

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

Which factor of production is: natural resources

Land

Labor

Capital

Entrepreneurship

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

Which factor of production is: the time, energy, knowledge, and skills of humans

Land

Labor

Capital

Entrepreneurship

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

Which factor of production is: human innovation and initiative to combine land, labor, and capital in order to produce goods/services

Land

Labor

Capital

Entrepreneurship

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

Which factor of production is: anything produced in an economy used to produce other goods/services

Land

Labor

Capital

Entrepreneurship

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

Which term means: resources are limited compared to wants

Economy

Factors of Production

Want-Satisfaction Chain

Opportunity Cost

Scarcity

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