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Economics Unit 1 Test

Authored by David Tien

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9th - 12th Grade

Economics Unit 1 Test
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35 questions

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1.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

In this type of economy, the people decide the supply, demand, and price.  

Market 
Traditional
Command 
Mixed

2.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Media Image

This type of economy is passed down through family traditions. They learn from their parents. 

Traditional 
Market 
Mixed 
Command 

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of economy has central ownership, the government, and lack of individual choice?

Market

Mixed

Command

Traditional

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of economy is usually paired with a Communist government?

Mixed
Market
Command
Traditional

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is scarcity? 

Giving something up to have something else
Extra cost of production
The condition that results form having unlimited wants with limited resources
Rise in general level of prices and workers need more money

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a natural resource?

Oil
Water
Car
Air

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following IS a capital resource?

Wood
Computer
Labor
Knowledge

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