Economics Unit Review

Economics Unit Review

9th - 12th Grade

50 Qs

quiz-placeholder

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Assessment

Quiz

Business

9th - 12th Grade

Medium

Created by

Gina Lundquist

Used 28+ times

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50 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

______________________is the study of how individuals and businesses make decisions to best satisfy wants, needs, and desires with limited resources

Business

Economics

Marketing

Accounting

2.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

The study of how individual businesses, households, and consumers make decisions to allocate (distribute) their limited resources in the exchange of goods and services.

Economics

Microeconomics

Macroeconomics

Business

3.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

     The study of the behavior of the overall economy. Economy-wide occurrences, such as changes in unemployment, interest rates, inflation, and price levels, are all a part of this study.

Economics

Microeconomics

Macroeconomics

Business

4.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

    What should be produced? How should we produce it? And Who will buy the goods and services are:

The scarcity questions

The principles of macroeconomics

The principles of microeconomics

The three basic economic questions

5.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

   Which of the following are the factors of production?

Labor, land, capital, and entrepreneurship

Labor, capital, motivation, and natural resources

Land, entrepreneurship, capital, and creativity

Labor, profits, technology, and motivation

6.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

How would a tractor be classified in the factors of production?

Land

Labor

Capital

Entreprenuership

7.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

   Which resource is not classified as a land/natural resource?

Two thousand acre forest

A hydroelectric dam

Crude oil reserves

The Mississippi

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