Econ Review

Econ Review

12th Grade

44 Qs

quiz-placeholder

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Econ Review

Econ Review

Assessment

Quiz

Social Studies

12th Grade

Medium

Created by

Justice Parker

Used 3+ times

FREE Resource

44 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

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

Needs

Goods

Services

Wants

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

the situation that exists where there are not enough resources to meet human wants

limitations

scarcity

rations

coupons

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

the benefit or satisfaction we gain from the use of the good or service

utility

opportunity cost

incentives

TINSTAAFL

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Scarcity affects whom? (best answer)

Individuals

Businesses

Governments

Everyone

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

physical objects that can be purchased

Needs

Goods

Services

Wants

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

people who buy goods and services for personal use

consumers

officials

investors

producers

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

people who make goods or provide services

consumers

officials

investors

producers

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