CHAPTER ONE TEST - ECONOMICS
Quiz
•
Social Studies
•
9th - 12th Grade
•
Practice Problem
•
Easy
Jennifer Hartman
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30 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Adam Smith was one of the first people to consider the subject of ______.
government
economics
biology
microeconomics
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What did Adam Smith think was the key to a healthy economy?
money
communism
resources
competition
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What do you call a system used to manage limit resources for the production, distribution, and consumption of goods and services?
communism
government
Economy
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
____________ is the study of how people use their limited resources to satisfy their unlimited wants.
Government
Economics
Algebra
Physics
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The branch of economics that uses objective analysis is called _________ Economics.
Positive
Negative
Normative
Abnormative
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The branch of economics that applies value judgements to data in order to recommend action or policies called ____________ Economics.
recommendation
positive
normative
all of these
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A ______________ is the exchange of one benefit or advantage that is thought to be better.
bargain
economic choice
barter
tradeoff
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