Chapter 1 Section 1 Quiz

Chapter 1 Section 1 Quiz

11th Grade

22 Qs

quiz-placeholder

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Chapter 1 Section 1 Quiz

Chapter 1 Section 1 Quiz

Assessment

Quiz

Social Studies

11th Grade

Practice Problem

Easy

Created by

Vicki Blair

Used 15+ times

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22 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Definition: desires that can be satisfied by consuming a good or service

Choose the correct term.

need

want

labor

scarcity

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Definition: things that are necessary for survival

Choose the correct term.

want

need

factors of production

goods

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Definition: exists when there are not enough resources to satisfy human wants

Choose the correct term.

needs

factors of production

scarcity

economics

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Definition: how individuals and societies satisfy their unlimited wants with limited resources

Choose the correct term.

economics

factors of production

labor

capital

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Definition: objects such as food, clothing, and furniture that can be bought

Choose the correct term.

goods

services

capital

entrepreneurship

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Definition: work that one person does for another

good

service

consumer

producer

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Definition: a person who buys or uses goods and services

consumer

producer

entrepreneur

economics

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