What is an economy review
Authored by Haley Ruckman
Business
11th Grade
Used 36+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an economy?
government controls all means of production within the country
an organized way a nation provides for its citizens
the way a government makes money
the way citizens make products from natural resources
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which one is NOT a factor of production in an economy?
Entrepreneurship
Labor
Land
Natural Resources
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which is NOT a land resource?
Water
Factories
Oil
Lumber
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these is an example of a capital resource?
Delivery driver
Crude Oil
Bank Loan
Water
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
True or false: Economies with well-trained labor have an advantage over other nations in attracting business.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
refers to the skills of people who are willing to invest their time and money to run a business.
Labor
Land
Capital
Entrepreneurship
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What forces nations to make economic choices?
Capitilism
Scarcity
labor resources
land resources
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