
econ unit 1 quiz Hartley, Anothny, Darak
Authored by Anthony Messina
History
12th Grade

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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Definition of opportunity cost?
work less and gain more money, and bosting total Net Worth
Given up time for money
Neither
All the above
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Economics?
The branch of knowledge concerned with the production, consumption, and transfer of wealth
How the human body works
American history
None of the above
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is scarcity
Potential war with the Hamas
The fear in people
Humans have unlimited wants and needs but there is a limited resource
America being in debt
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Name the 4 factors of production
Land, Labor, Power and Entreprenuer
Land, Military, Capital and Money
Capital, Labor, Money and Machines
Land, Capital, Labor and Entrepreneur
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who was Adam Smith?
Lead American troops into D-Day
One of founding father
The Father of Economics
The Father of Constitution
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the two types of Economy?
None of the above
Capitalism and Socialism
Dictatorship and Democracy
Democracy and Monarchy
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Definition of Shortage
bill Clinton
lack of goods
a large amount of product
A situation in which consumers want more of a good than producers are willing to make at price
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