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9 Weeks Test Study Guide, Economics

Authored by JODI Crow

Social Studies

11th Grade

Used 2+ times

9 Weeks Test Study Guide, Economics
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22 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the four factors of production?

land, labor, capital, and entrepreneurship

taxes, government, rights, and regulations

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is scarcity?

scars on the earth's surface

limited resources, unlimited wants

unlimited resources, limited wants

none of the above

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is opportunity cost?

the price of opportunity

the price of being rich

what you give up after making a decision

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the saying "no free lunch" mean?

everything costs somehting

people are mean

no one pays for other people to eat

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does every society answer the question of "What to produce?"

more efficiency=more productivity

the resources that society has

division and distribution systems

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does every society answer the question "How will it be produced?"

more efficiency=more productivity

the resources that society has

division and distribution systems

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does every society answer the question "Who to produce for?"

more efficiency=more productivity

the resources that society has

division and distribution systems

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