Factors of production

Factors of production

University

25 Qs

quiz-placeholder

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Factors of production

Factors of production

Assessment

Quiz

Business

University

Hard

Created by

Houy Sam Ath

Used 2+ times

FREE Resource

25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Things that are required in order to live are known as ....?

Wants

Needs

Goods

Services

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Things that you can see and touch are known as ...?

Goods

Services

Wants

Needs

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Things that add comfort or pleasure to your live are know as ....?

Wants

Needs

Goods

Services

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which one of the following is a need?

food

roller skates

bike

cat

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why are they called wants?

You must have them or you will die.

You don't need them to live.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why are they called needs?

They are things you really want.

You must have them or you will die.

You want them, but you will not die if you don't get them.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economics is the study of

production technology

consumption decisions

how society decides what, how, and for whom to produce

the best way to run society

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