Chapter 1 Quiz Review

Chapter 1 Quiz Review

10th Grade

9 Qs

quiz-placeholder

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Chapter 1 Quiz Review

Chapter 1 Quiz Review

Assessment

Quiz

Business

10th Grade

Practice Problem

Easy

Created by

Jenell Warren

Used 3+ times

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9 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Tangible products you can purchase to meet your wants and needs are called goods.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A video game is an example of a product that fulfills a need.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Competition forces businesses to search for new ways to satisfy customers' wants and needs.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Economists predict future changes in the economy.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt


The basic economic problem is

deciding what goods and services to produce

having unlimited wants and needs but limited economic resources.

identifying the goods and services available to you.

determining how to satisfy needs and wants.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Water, air, and minerals are examples of

capital resources

consumer resources

human resources

natural resources

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

In which economic system are resources owned and controlled by the people of the country?

mixed economy

command economy

market economy

traditional economy

8.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In which economic system do workers often use hand tools and readily available natural resource

command economy

traditional economy

mixed economy

market economy

9.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image


In which economic system do consumers base their decisions on their own self-interest?

mixed economy

command economy

market economy

traditional economy