Econ Unit 1 Test
Quiz
•
Social Studies
•
10th Grade
•
Practice Problem
•
Medium
Kendall Giles
Used 95+ times
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34 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Economics?
Something we would like to have but is not necessary for survival.
Basic requirement for survival.
Social Science concerned with the production, distribution, and consumption of goods and services.
Monetary ($) worth of a good or service.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a need?
Something we would like to have but is not necessary for survival.
Basic requirement for survival.
A useful/tangible item that can satisfy a want/need.
Work that is performed for someone.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a want?
Something we would like to have but is not necessary for survival.
Basic requirement for survival.
A useful/tangible item that can satisfy a want/need.
Work that is performed for someone.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a good?
Something we would like to have but is not necessary for survival.
Basic requirement for survival.
A useful/tangible item that can satisfy a want/need.
Work that is performed for someone.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a service?
Something we would like to have but is not necessary for survival.
Basic requirement for survival.
A useful/tangible item that can satisfy a want/need.
Work that is performed for someone.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a nondurable good?
Intended for final use by individuals.
Tool/equipment used to make other goods.
Lasts for less than 3 years w/ regular use.
Lasts for 3+ years w/ regular use.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a durable good?
Intended for final use by individuals.
Tool/equipment used to make other goods.
Lasts for less than 3 years w/ regular use.
Lasts for 3+ years w/ regular use.
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