Econ Unit 1 Review
Authored by Rickey McDowell
Social Studies
12th Grade
Used 99+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Societies embrace various economic systems to deal with the fundamental problem of
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these is most closely associated with opportunity cost?
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Societies are faced with which three basic questions about production of goods?
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a business needs to decide whether a certain action is worth the cost, the most helpful analysis would be a(n)
5.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Which of the following statements are true about factors of production? (check all that apply)
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The production possibilities curve is of a fictitious country that produces only cars and clothing. What does the curved line depict?
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Opportunity cost refers to
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