Econ Chapter 1 Review

Quiz
•
Social Studies
•
12th Grade
•
Medium
Mathew Wilson
Used 3+ times
FREE Resource
21 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Economics use the word utility to describe the satisfaction one receives from a good
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A rationing device is a method used to resolve who gets what of available goods and resources
True
False
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to Economists, one of the four broad categories of resources is Money
True
False
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Economists sometimes refer to the LAND category as Natural Resources
True
False
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The slope of a nonlinear curve varies from one point to another point
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Entrepreneurship is...
the talent for organizing the use of land, labor and capital, among other things
skill in influencing government regulators and legislators
accumulated technical knowledge in using labor and capital
knowledge of the particular natural resources to be found in a given area
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The physical and mental talents people bring to production processes comprise the resource called
Entrepreneurship
Natural Resources
Capital
Labor
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