econ

econ

12th Grade

•

59 Qs

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econ

econ

Assessment

Quiz

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Business

•

12th Grade

•

Practice Problem

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Created by

mayo ade

Used 2+ times

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59 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economic Resources

farms, roads, buildings etc., water, sunlight, wind, oil, forests, and minerals

Natural Resources

Capital Resources

Human Resources

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economic Resources

Processed materials, equipment & buildings used in production

Natural Resources

Human Resources

Capital Resources

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economic Resources

All the human effort that is used directly in production

Entrepreneurship: Creativity, innovation and initiative

Human Resources

Capital Resources

Natural Resources

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economic System

Economic decisions depend upon social customs

Rarely changes from generation to generation

Traditional Economy

Market Economy

Command Economy

Mixed Economy

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economic System

Economic decisions are based on private ownership

Individuals are free to pursue their own self-interests

Market Economy

Traditional Economy

Command Economy

Mixed Economy

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Types of Economies:

controls all elements of the economy and establishes how income is distributed

Command Economy

Market Economy

Mixed Economy

Traditional Economy

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Types of Economies:

Characteristics of market and centrally planned economic systems

Command Economy

Market Economy

Mixed Economy

Traditional Economy

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