Economic Decisions & Systems

Economic Decisions & Systems

9th - 12th Grade

30 Qs

quiz-placeholder

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Economic Decisions & Systems

Economic Decisions & Systems

Assessment

Quiz

Business

9th - 12th Grade

Medium

Created by

Madison Hough

Used 3+ times

FREE Resource

30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following would an economist most likely classify as a need?

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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