Chapter 1: What is Economics? Review
Authored by Coach Morphew
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12th Grade
Used 16+ times
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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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