Econ - Unit 1 Review - Intro to Economics

Econ - Unit 1 Review - Intro to Economics

12th Grade

12 Qs

quiz-placeholder

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Econ - Unit 1 Review - Intro to Economics

Econ - Unit 1 Review - Intro to Economics

Assessment

Quiz

History

12th Grade

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Created by

Kelsey Paden

Used 3+ times

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12 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following defines "economics"?

The study of money and finance

The study of how people use scarce resources to make choices

The study of government and policies

The study of social interactions

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a factor of production?

Land

Labor

Capital

Entrepreneurship

Money

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Scarcity occurs because:

There is an unlimited supply of resources

There are unlimited wants but limited resources

  1. People are not willing to work hard enough 

Governments control the distribution of resources

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a key economic question?

  1. What goods and services should be produced?

  1. How should these goods and services be produced?

  1. Who consumes these goods and services?

  1. How should it be ensured that goods and services are paid for?

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Each society determines who will consume what is produced based on

its unique combination of values and goals.

the amount of factor payments.

its needs and wants.

economic equity.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Individuals make choices for what is produced and are given the opportunity to buy, sell, and make goods WITHOUT government intervention

Market

Mixed

Traditional

Command

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Government controls all economic decisions

Market

Mixed

Traditional

Command

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