Economics test practice
Authored by Makayla Griffin
Other
12th Grade
Used 3+ times
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22 questions
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1.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
The study of the choices that individuals and societies make in the production, distribution, and consumption of goods
Economy
Service
Economics
Market
2.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Any system for the production, distribution, and consumption of goods and services.
Economy
Good
Economic models
Demand
3.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Seek to show the relationships among the various components of an economy
Market
Service
Producer
Economic models
4.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
A Tangible item that people want and for which they will pay.
Service
Market
Want
Good
5.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Intangible goods produced by labor for which people expect to pay.
Economy
Service
Market
Value
6.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
The human desire to have and use a certain good.
Want
Good
Consumer
Supply
7.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
A mechanism that allows people to exchange goods.
Economics
Service
Producer
Market
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