Chapter 16 Quiz: Introduction to Economics

Chapter 16 Quiz: Introduction to Economics

12th Grade

25 Qs

quiz-placeholder

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Chapter 16 Quiz: Introduction to Economics

Chapter 16 Quiz: Introduction to Economics

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Medium

Created by

Jon Wrigley

Used 4+ times

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25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the study of how individuals and nations make choices about ways to use scarce resources to fulfill their needs and wants?

Social Sciences

Civics

Politics

Economics

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the situation of not having enough resources to satisfy all one's wants?

Abundance
Plenty
Excess
Scarcity

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the three types of economic resources?

labor, money, and products

natural resources, labor, and capital

money, technology, and infrastructure
goods, services, and products

4.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Basic Economic Question #1: Each country has to decide _______ goods or services will be produced.

5.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Basic Economic Question #2: How will the goods and services be ________?

6.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Basic Economic Question #3: Who will _______, or use, them?

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the type of economy where the economic questions are answered by habit or custom?

Mixed economy

Market economy

Command economy

Traditional economy

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