Which of these is TRUE about economics?
Macroeconomics: Topic 1.1
12th Grade
•16 Qs
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Macroeconomics: Topic 1.1
Quiz
•
Education
•
12th Grade
•
Easy
Brittney Phan
Used 5+ times
FREE Resource
16 questions
Show all answers
1.
MULTIPLE SELECT QUESTION
15 mins • 1 pt
It's resources are classified into four categories called the Factors of Production.
It is concerned with concerned with how scarce resources are allocated among unlimited wants, needs, and desires.
It analyzes human behavior and decision-making.
It is the study of decisions only at the individual level.
2.
MULTIPLE SELECT QUESTION
15 mins • 1 pt
Which of these are the four factors of production?
Money, labor, capital, and entrepreneurship
Trade, labor, capital, and entrepreneurship
Land, labor, capital, and entrepreneurship
Trade, land, labor, and capital
3.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Which of these refers to natural resources?
Land
Labor
Capital
Entrepreneurship
4.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Which of these refers to the workers?
Land
Labor
Capital
Entrepreneurship
5.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Which of these refers to the things we used to make the other things?
Land
Labor
Capital
Entrepreneurship
6.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Which of these refers to the ability to figure out ways to solve problems using the other three factors of production?
Land
Labor
Capital
Entrepreneurship
7.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Payment for land is called...
Profit
Rent
Interest
Wage
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