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Assessment #1 Reveiw

Authored by Christopher Russo

Social Studies

12th Grade

Used 8+ times

Assessment #1 Reveiw
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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The resources used to make all goods & services are called

Natural Resources

Factors of Production

Goods & Services

Renewable Resources

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Any technology/machinery involved in the production process (human-made objects that help us produce other goods):

Human Capital
Physical Capital
Investment Capital
Enterprise Capital

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

An action that one provides for someone else is a.... (hint: haircuts, counseling, or babysitting)

Job

Good

Service

Factor of Production

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The creation of any kind of good or service is known as:

Input
Resources
Production
Entrepreneurship

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Scarcity is defined as a limited supply of resources and...

limited wants for those resources

unlimited resources

limited resources

unlimited wants for available resources

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Which of these is NOT an example of a need?

Water
Food
watch
Shelter

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Economics is the study of how people seek to satisfy their needs and wants by making choices.

True
False

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