econ

econ

10th Grade

8 Qs

quiz-placeholder

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econ

econ

Assessment

Quiz

Other

10th Grade

Hard

Created by

Everton Wilson

FREE Resource

8 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

10 sec • 5 pts

What is opportunity cost

The cost of an opportunity
The cost of a choice
The cost of a decision
The value of the next best alternative that is forgone when a choice is made.

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What is limited resources

Unlimited resources to meet demand or needs.
Adequate resources to meet demand or needs.
Insufficient resources to meet demand or needs.
Excessive resources to meet demand or needs.

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What is unlimited wants

Unlimited supply of resources
Limited human desires and needs
Satisfied human desires and needs
Insatiable human desires and needs

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

what is scarcity

Unlimited availability of resources.
Equal distribution of resources.
Abundance of resources.
Limited availability of resources

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What is choice

The act of refusing or rejecting an option
The act of selecting or making a decision between two or more options.
The act of choosing a single option
The act of delaying or postponing a decision

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What is Allocation

The process of distributing resources or assigning tasks to different individuals or groups.
The process of combining resources to form a single entity.
The act of reallocating resources to different individuals or groups.
The act of reserving resources for future use.

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What are the four factors of production

land, labor, capital, and entrepreneurship
knowledge, infrastructure, workforce, and investment
machinery, materials, skills, and creativity
technology, resources, management, and innovation

8.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What is economics

The study of how individuals, businesses, and governments allocate resources to satisfy unlimited wants and needs.
The study of how individuals, businesses, and governments allocate resources to satisfy limited wants and desires.
The study of how individuals, businesses, and governments allocate resources to satisfy limited wants and needs.
The study of how individuals, businesses, and governments allocate resources to satisfy unlimited wants and desires.