Search Header Logo

Unit 1 Review

Authored by Kevin Morales

Social Studies

12th Grade

E covered

Used 6+ times

Unit 1 Review
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

33 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

5 mins • 5 pts

Media Image

The condition of scarcity can be described as one that

afflicts only poor people and nations

exists when our unlimited needs/wants exceed our limited resources

exists when our limited resources exceed our unlimited needs/wants

only applies to luxury items

Tags

E.1A

2.

MULTIPLE CHOICE QUESTION

5 mins • 5 pts

Media Image

__________ is the fundamental, universal, and perpetual economic problem that no one is immune to.

price floors/price ceilings

Scarcity

Shortage

the study of microeconomics

Tags

E.1A

3.

MULTIPLE CHOICE QUESTION

5 mins • 5 pts

Because of scarcity, people are forced to make _________ about how to use resources.

Choices

Opportunities

Houses

Desires

Tags

E.1A

4.

MULTIPLE CHOICE QUESTION

5 mins • 5 pts

When you make a choice, you often have to give up other options. The value of what you gave up is called ________.

Opportunity Cost

Missed Opportunities

Misused Resources

Scarce Options

Tags

E.1A

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Which one of the following is an opportunity cost?

You stay out late and your parents ground you.

You run a red light and you get a ticket.

You choose to give up math to study for history.

In a softball game, you miss the ball and strike out.

Tags

E.1A

6.

MULTIPLE SELECT QUESTION

5 mins • 5 pts

Which of the following is not one of the three basic economic questions?

What to produce?

When do we produce?

Whom do we produce for?

How much to produce?

Tags

E.1B

7.

MULTIPLE CHOICE QUESTION

5 mins • 5 pts

What is the fundamental problem of economics? 

How to keep consumers out of debt?
How to fulfill our unlimited wants and needs with limited resources?
How to figure out the way to make the most money?
How do we ensure all people get a college education?

Tags

E.1B

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?