
Basic Economic Concepts (4 Factors and Econ. Sys)
Authored by Scott Moore
Business
9th - 12th Grade
Used 14+ times

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25 questions
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1.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
What are the four "Factors of Production"?
(Choose all that apply)
Entrepreneurship
Labor
Economy
Land
Capital
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An "Opportunity Cost" is:
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
One definition of "Economics" is:
Economics is the study of how society uses its limited resources.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
"Scarcity" is
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
"The special talent that some people have for searching out and taking advantage of new business opportunities and for developing new products and new ways of doing things" is known as:
6.
FILL IN THE BLANK QUESTION
30 sec • 2 pts
"Anything that satisfies a person’s wants or brings satisfaction" are called
7.
FILL IN THE BLANK QUESTION
30 sec • 2 pts
"Tasks that people pay others to perform for them" are called
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