Econ Final
11th Grade
•50 Qs
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Econ Final
Quiz
•
Social Studies
•
11th Grade
•
Easy
Ryan O'Rourke
Used 1+ times
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50 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why do all societies have to make decisions about how resources will be used?
People are greedy
There are not enough resources for those who want them
Resources are too expensive for most people
Because there is a huge gap between the rich and poor
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What do economists mean by the term "scarcity"?
Having too few or too little of resources
Having too many resources
Having just enough resources
Having the correct amount of resources
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which choice best describes the economic problem of scarcity in the world?
People have limited wants there is an unlimited amount of resources.
People have unlimited wants but there is a limited amount of resources
People have no wants so resources don't matter
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The person who grows, makes or sells products is a …………..
producer
consumer
goods
business
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A person who buys and uses goods and services is a ………...
goods
services
producer
consumer
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following IS NOT a basic economic question
What will be produced
How will it be produced
When will it be produced
For whom will it be produced for
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How many factors of production do we have?
1
4
2
3
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