Spring Economics Final Review

Spring Economics Final Review

12th Grade

•

24 Qs

quiz-placeholder

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Spring Economics Final Review

Spring Economics Final Review

Assessment

Quiz

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Social Studies

•

12th Grade

•

Medium

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Blake [KPHS]

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24 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Tools we use to make products

capital resources
human resources
natural resources
entrepreneurs

2.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

A person who buys goods and services

consumer

entrepreneur

resource

3.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

What is a need?

Nothing

Something that is required for survival

Something you would like to have
Ice cream

4.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

What is a want?

A person
Something you would like to have but don't need to live
Purple
Something you need to live

5.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Factors of production are grouped into four categories:

land, labor, capital, entrepreneurship

land, labor, capital, money

6.

MULTIPLE CHOICE QUESTION

20 sec • 5 pts

Media Image

The condition of scarcity can be described as one that

afflicts only poor people and nations

exists when our unlimited needs/wants exceed our limited resources

exists when our limited resources exceed our unlimited needs/wants

only applies to luxury items

7.

MULTIPLE CHOICE QUESTION

20 sec • 5 pts

Media Image

The crops and animals on a farm are examples of which factor of production?

Land

Labor

Capital

Entrepreneurship

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