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Chapter 1: What is Economics? Review

Authored by Coach Morphew

History

12th Grade

Used 16+ times

Chapter 1: What is Economics? Review
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

each worker learns one task very well

specialization

standard of living

production possibilities curve

factor market

scarcity

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

quality of life

specialization

standard of living

production possibilities curve

factor market

scarcity

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

represents the range of production possibilities

specialization

standard of living

production possibilities curve

factor market

scarcity

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

where all of the factors of production are bought and sold

specialization

standard of living

production possibilities curve

factor market

scarcity

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a fundamental problem in every society

specialization

standard of living

production possibilities curve

factor market

scarcity

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

measures a country’s output and economic health

gross domestic product

capital good

nondurable good

economic interdependence

consumerism

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

manufactured good used to produce other goods or services

gross domestic product

capital good

nondurable good

economic interdependence

consumerism

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