Review Quizizz for Economics Midterm
Authored by Michelle Sharper
Social Studies
9th - 12th Grade
Used 2+ times
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44 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If an expense can NOT be removed from your budget to save money, it is considered a _____.
want
need
income
savings
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If it is NOT necessary for your survival, then it is considered a _______.
want
need
related good
complement
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What would a government do in a model free enterprise system?
ensure that prices remain reasonable
protect property rights and enforce contracts
stay out of economic activity altogether
support entrepreneurs to encourage innovation
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which kind of economy is most common today?
command
market
mixed
traditional
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why are tradeoffs necessary?
people want different things
every product has flaws
advertises promote products
resources are limited
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
_______include(s) anything used to produce goods or services
Economics
Rationing Devices
Scarcity
Resources
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
_______ exists when our wants are greater than the resources available to satisfy those wants.
Scarcity
Economics
Rationing Devices
Resources
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