
IBECO - Concepts
Authored by Joshua Kiehne
Social Studies
11th - 12th Grade
Used 2+ times

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26 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is NOT economics?
A natural science
A social science
A science focusing on the study of society and how they interact with each other
A science that studies human behaviour as a relationship between ends and scarce resources
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the basic economic problem?
We have finite wants and only limited time to satisfy them
Resources are relatively scare and wants are infinite, which lads to choices to be made
We have scarce knowledge yet want to achieve Level 7
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are goods?
Physical objects that are capable of being touched (tangible) e.g. mobile phones, vegetables, cars
Intangible things that can be touched, e.g. mobile-phone repairs, car insurance, haircuts
Things that we must have to survive, such as food, shelter, clothing
Things that we would like to have but which are not necessary for our immediate physical survival, such as television and mobile phones
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are services?
Physical objects that are capable of being touched (tangible) e.g. mobile phones, vegetables, cars
Intangible things that can be touched, e.g. mobile-phone repairs, car insurance, haircuts
Things that we must have to survive, such as food, shelter, clothing
Things that we would like to have but which are not necessary for our immediate physical survival, such as television and mobile phones
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are wants?
Physical objects that are capable of being touched (tangible) e.g. mobile phones, vegetables, cars
Intangible things that can be touched, e.g. mobile-phone repairs, car insurance, haircuts
Things that we must have to survive, such as food, shelter, clothing
Things that we would like to have but which are not necessary for our immediate physical survival, such as television and mobile phones
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are needs?
Physical objects that are capable of being touched (tangible) e.g. mobile phones, vegetables, cars
Intangible things that can be touched, e.g. mobile-phone repairs, car insurance, haircuts
Things that we must have to survive, such as food, shelter, clothing
Things that we would like to have but which are not necessary for our immediate physical survival, such as television and mobile phones
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the definition of Economics?
the scientific study of the human mind and its functions, especially those affecting behaviour in a given context.
the study of the development, structure, and functioning of human society.
The study of the choices that people make in overcoming the problems that arise because resources are limited while needs and wants are unlimited
The study of human societies and cultures and their development.
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