1.1 Scarcity: The Basic Economic Problem

1.1 Scarcity: The Basic Economic Problem

10th Grade

13 Qs

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1.1 Scarcity: The Basic Economic Problem

1.1 Scarcity: The Basic Economic Problem

Assessment

Quiz

Social Studies

10th Grade

Practice Problem

Easy

Created by

Myra Frazer

Used 43+ times

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13 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

all the resources made and used by people to produce and distribute goods and services

capital
consumer
economics
entrepreneurship

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

a person who buys goods and services

consumer
economics
entrepreneurship
factors of production

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The study of how people seek to satisfy their needs and wants by making choices

economics
entrepreneurship
factors of production
goods

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

the combination of vision, skill, ingenuity, and willingness to take risks needed to create and run new businesses

entrepreneurship
factors of production
goods
labor

5.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

the economic resources needed to produce goods and services

factors of production
goods
labor
land

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

the physical objects that someone produces

goods
labor
land
needs

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

all the human time, effort, and talent that go into the making of products

labor
land
needs
producer

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