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Econ Unit 1

Authored by Jennifer Stiles

Social Studies

12th Grade

21 Questions

Used 9+ times

Econ Unit 1
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1.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Economics is the study of how ______________, _________________, and ___________________ use their scarce or limited resources.

People

government

nations

businesses

2.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Economics is the study of how ______________, _________________, and ___________________ use their scarce or limited resources.

People

government

nations

businesses

3.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

What are the 4 factors of production?

Natural resources

capital

Air

labor

entrepreneurs

4.

FILL IN THE BLANK QUESTION

1 min • 1 pt

What is the difference between wants and needs?

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Tools and machines, a person or a business uses to produce goods and services is called _________?

Capital

Scarcity

Specialization

Opportunity Cost

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A _____________________ buys and use goods and services.

Consumer

Seller

Profits

Standard of living

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The condition in which there aren't enough resources available to produce everything that individuals need is__

opportunity cost

scarcity

circular flow model

choice

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