The _ is the market for goods and services; the _ is the market for the factors of production

Consumer Market; Production Market

Producer Market; Consumer Market

The more you buy of an item, the less satisfaction you receive from it. For instance, Mr. C buys Chick-Fil-A every day for 10 days. By the eighth day, he starts to not enjoy it as much... This is an example of _

law of diminishing marginal utility

The following graph is showing what?

someone who's pretty bad at math

the human made resource or something physical to aid production

the human resource that bears the risk of procution

the effort or talent devoted to making goods

natural resources used to make other goods

Opportunity Cost is best defined as

the value of the next best alternative that is given up due to the choice you made

The price you pay to purchase something

The benefit you gain by making a decision

The amount of debt you take on by making a decision

The economy is the total of all activities for the purpose of...

producing, distributing and consuming goods and services in a country

producing, marketing and selling goods and services in a country

creating, designing and exploring goods and services in a country

producing, distributing and selling foods and services in a country

how much of a product or service the market has to offer

how much of a product that the customer wants to buy

how many goods are available for purchase

how much of a product or service that buyers want to sell

all the raw materials and other natural resources that go into the production of goods and services

all the raw materials that mined and used in difference resources to create goods and services for the consumer

all the raw materials that are offered to producers as goods and services for the consumer

all the raw materials that are mined in minecraft

all the equipment used by human labour in the process of production

the money or cash on hand that a business has at their disposal

all the equipment used when to create goods and services for the consumers

the resources required to produce goods and services for consumers

goods are physical, tangible products that can be seen and touched

goods are sold at supermarkets for consumption

goods are intangible items that cannot be seen or touched

goods are actions done by businesses for consumers

the actions that are done by businesses for consumers

are the products offered by businesses

are companies that offer business to consumers

are physical, tangible items that can be seen and touched

the human skills and effort required in the production process

the human process of manufacturing goods and services

the human skills required to acquire raw materials

the human skills and effort required to manufacture goods and services

Which of the following would be considered a NEED?

Pens Pencils and Paper for school

Business Economics Final

Quiz

•

Other

•

9th - 12th Grade

•

Practice Problem

•

Hard

Akilah Franklin

Used 2+ times

FREE Resource

50 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The factors of production are...

land, labor and capital

good, service, need

entrepreneur, land, knowledge

skills, knowledge, money

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

_ is the study of how individuals and societies satisfy their unlimited wants with limited resources

Opportunity Cost

Cost-Benefit Analysis

Economics

Scarcity

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

_ is the situation that exists because wants are unlimited and resources are limited.

Scarcity

Economics

PPC

Water-Diamond Paradox

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

A _ is a physical object that can be purchased, such as food, clothing, and furniture. A _ is work that one person performs for another for payment.

Service; Good

Good; Service

Consumer; Producer

Producer; Consumer

Cost; Benefit

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which of the following is NOT a question that results from scarcity?

What will be produced?

Where will it be produced?

How will it be produced?

For whom will it be produced?

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The _ of a decision is the value of the next-best alternative, or what you give up by choosing one alternative over another.

Trade-off

Opportunity Cost

Cost-Benefit Analysis

Marginal Cost

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

_ is the study of the behavior of individual players in an economy, such as individuals, families, and businesses.

_ is the study of the behavior of the economy as whole and involves topics such as inflation, unemployment, aggregate demand, and aggregate supply.

Macroeconomics; Microeconomics

Microeconomics; Macroeconomics

Positive Economics; Normative Economics

Normative Economics; Positive Economics

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Business Economics Final

50 questions

The factors of production are...

_ is the study of how individuals and societies satisfy their unlimited wants with limited resources

_ is the situation that exists because wants are unlimited and resources are limited.

A _ is a physical object that can be purchased, such as food, clothing, and furniture. A _ is work that one person performs for another for payment.

Which of the following is NOT a question that results from scarcity?

The _ of a decision is the value of the next-best alternative, or what you give up by choosing one alternative over another.

_ is the study of the behavior of individual players in an economy, such as individuals, families, and businesses.

_ is the study of the behavior of the economy as whole and involves topics such as inflation, unemployment, aggregate demand, and aggregate supply.

The _ is the market for goods and services; the _ is the market for the factors of production

The effort of two or more people, acting independently, to get the business of others by offering the best deal is called _

_ is the desire for a product and the ability to pay for it.

Create a free account and access millions of resources

Similar Resources on Wayground

Popular Resources on Wayground

Discover more resources for Other

Business Economics Final

50 questions

The factors of production are...

_ is the study of how individuals and societies satisfy their unlimited wants with limited resources

_ is the situation that exists because wants are unlimited and resources are limited.

A _ is a physical object that can be purchased, such as food, clothing, and furniture. A _ is work that one person performs for another for payment.

Which of the following is NOT a question that results from scarcity?

The _ of a decision is the value of the next-best alternative, or what you give up by choosing one alternative over another.

_ is the study of the behavior of individual players in an economy, such as individuals, families, and businesses. _ is the study of the behavior of the economy as whole and involves topics such as inflation, unemployment, aggregate demand, and aggregate supply.

The _ is the market for goods and services; the _ is the market for the factors of production

The effort of two or more people, acting independently, to get the business of others by offering the best deal is called _

_ is the desire for a product and the ability to pay for it.

Create a free account and access millions of resources

Similar Resources on Wayground

Popular Resources on Wayground

Discover more resources for Other

_ is the study of the behavior of individual players in an economy, such as individuals, families, and businesses.

_ is the study of the behavior of the economy as whole and involves topics such as inflation, unemployment, aggregate demand, and aggregate supply.