Econ Unit 1 Test

Econ Unit 1 Test

10th Grade

34 Qs

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Econ Unit 1 Test

Econ Unit 1 Test

Assessment

Quiz

Social Studies

10th Grade

Practice Problem

Medium

Created by

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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