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Economics Final Exam

Authored by Jamie McGuirl

Social Studies

9th - 11th Grade

Used 2+ times

Economics Final Exam
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30 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Things such as food, clothing, and shelter that are necessary for survival

wants

needs

demand

supply

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Desires that can be satisfied by consuming a good or service

wants

needs

demand

supply

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A situation that exists when there are not enough resources to meet human wants

shortage

surplus

supply

scarcity

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A person who buys goods or services for personal use

consumer

producer

supplier

retailer

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A person who makes goods or provides services

producer

consumer

market

assembly line

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

All the resources people make and use to produce and distribute goods and services

resources

capital

revenue

profit

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The combination of vision, skill, ingenuity, and willingness to take risks that is needed to create and run new businesses

communism

capitalism

entrepreneurship

government subsidy

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