Economics Quiz

Economics Quiz

12th Grade

22 Qs

quiz-placeholder

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Economics Quiz

Economics Quiz

Assessment

Quiz

Social Studies

12th Grade

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Created by

Jasmine Franklin

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22 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Defintion of durable goods

last longer than 3 years

machine/tool

does not last longer than 3 years

risk taker, one who calls the shots

Answer explanation

Media Image

items with the expected lifetime GREATER THAN THREE YEARS is a durable good

  • - prefix of durable is "dur"- "hard;strong; lasting

2.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

natural resource

economics

enterpenurship

land

labor

Answer explanation

Media Image

"gift from nature"

3.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Media Image

What is this model called?

Economic growth

production of products curve

Photosynthesis

circular flow of economic activity

Answer explanation

demonstrates how money moves from producers to households and back again in an endless loop

4.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Which one of these is a factor for production

specialization

labor

errand running

money management

Answer explanation

Media Image

the people who are making it happen; putting the physical work in

5.

MULTIPLE SELECT QUESTION

45 sec • 2 pts

what is an example of a nondurable good?

disposable diapers

refrigerator

paper

bicycle

6.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

defintion of capital goods

machine/tool

none of these

risk taker; calls all the shots

specific task set for each individual

7.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

  1. If the price of cars falls, are carmakers likely to make ___________.

 more cars

fewer cars

the same amount of cars

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