Economics Final Exam

Quiz
•
Social Studies
•
9th - 12th Grade
•
Medium
Logan Genson
Used 7+ times
FREE Resource
24 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
45 sec • 2 pts
Define economics:
The study of how people get rich
The study of government spending
The study of balancing wants and needs
The study of how people interact with the government
2.
MULTIPLE CHOICE QUESTION
45 sec • 2 pts
The basic economic problem is:
Scarcity
People
Debt
Money
3.
MULTIPLE CHOICE QUESTION
45 sec • 2 pts
when does scarcity occur?
People run out of money
Needs and wants outweigh limited resources
A surplus of inventory
Resources outweigh the needs and wants of the people
4.
MULTIPLE CHOICE QUESTION
45 sec • 2 pts
What is Opportunity Cost?
A tax on a good
Cost of another alternative
The access to an opportunity
The cost of an opportunity
5.
MULTIPLE CHOICE QUESTION
45 sec • 2 pts
A person who starts a business is called a what?
Economist
A shark
Manger
Entrepreneur
6.
MULTIPLE CHOICE QUESTION
45 sec • 2 pts
The study of Microeconomics is:
Means small
Examines the problems of the economy as a whole
Means big
Examines individual issues in the economy
7.
MULTIPLE CHOICE QUESTION
45 sec • 2 pts
Macroeconomics is:
Means small
Examines problems of the economy as a whole
Means big
Examines the individual issues of the economy
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