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Econreview2

Authored by Andrew Skendi

History

12th Grade

Used 3+ times

Econreview2
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74 questions

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1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The definition of Scarcity is...

An unlimited amount of resources to meet limited wants and needs
A limited amount of resources to meet unlimited wants and needs.
When people use time and energy to create events
a city where individuals commit themselves to unlimited wants and needs

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A good is or service that has an unintended side effect is called a

Positive Externaity

Negative Externality

Both

None of the choices

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Public Goods are paid by

The government

Corporation

Tax Dollars

None of the choices

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A free rider is a person who would not choose to pay for a good or service bout would use it anyway

True

False

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of these is NOT an example of a need?

Water
Food
watch
Shelter

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a need?

Nothing
Something you have to have to live
Something you would like to have
Ice cream

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economics is the study of how people seek to satisfy their needs and wants by making choices.

True
False

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