Which of the following would an economist most likely classify as a need?
Economic Decisions & Systems

Quiz
•
Business
•
9th - 12th Grade
•
Medium
Madison Hough
Used 3+ times
FREE Resource
30 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Gasoline for a florist’s delivery truck
A college degree
A flat-screen television
A part-time job to earn extra money
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An example of a natural resource is…
Sunlight
A fishing net
A computer programmer
Money
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The decision-making process is best to use when…
You already know the choice you will make
You are facing a decision with several good alternatives
Groups rather than individuals are making a choice
You don't have enough money to pay for any of the chioces
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
John has two hours before having to go to his part-time job. He is deciding between studying for a Math exam and taking a nap. If John chooses to take a nap, the opportunity cost of his decision is…
The rest he is getting
The score he will earn on the Math exam
The wages from his part-time job
All of the above
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The first step in the decision-making process involves...
Defining the problem
Setting the goal
Identifying choices
Evaluating alternative
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following addresses the economic question of how to produce?
Growing corn instead of potatoes
Requiring individuals to complete specific types of work
Producing more capital goods and fewer consumer products
Selling natural resources to other countries
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In which of the following economic systems is the government’s role the largest?
Mixed
Traditional
Market
Command
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