Chapter 1 Section 1 Quiz
11th Grade
•22 Qs
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Chapter 1 Section 1 Quiz
Quiz
•
Social Studies
•
11th Grade
•
Practice Problem
•
Easy
Vicki Blair
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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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