Unit 1 quizizz

Unit 1 quizizz

12th Grade

30 Qs

quiz-placeholder

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Unit 1 quizizz

Unit 1 quizizz

Assessment

Quiz

Social Studies

12th Grade

Easy

Created by

Denise Vosika

Used 3+ times

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30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economics is the study of how people seek to satisfy their needs and wants by making choices.

True
False

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The definition of Scarcity is...

An unlimited amount of resources to meet limited wants and needs
A limited amount of resources to meet unlimited wants and needs.
When people use time and energy to create events
a city where individuals commit themselves to unlimited wants and needs

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economics is the study of how society manages its

limited wants and unlimited resources

unlimited wants and unlimited resources

limited wants and limited resources

unlimited wants and limited resources

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these is NOT a reason on why we have scarcity?

All resources are limited

People are satisfied with what they have

People want more than our country can produce

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these statements is correct?

Scarcity requires people to make choices.

Wealthy people do not experience scarcity.

Scarcity only exists is less-developed countries.

Expensive cars are not considered scarce.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the basic economic problem?

Opportunity Cost

Scarcity

Factors of production

Goods and Services

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Usefulness or satisfaction of a good or service

utility

Self interest

incentive

cost/ benefit analysis

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