What is the study of how people seek to satisfy their needs and wants by making choices called?
Economics Quiz

Quiz
•
Social Studies
•
12th Grade
•
Medium
M Negrete
Used 5+ times
FREE Resource
24 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Scarcity
Economics
Goods
Services
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which term refers to actions or activities that one person performs for another?
Goods
Services
Wants
Incentives
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for the most desirable alternative given up as the result of a decision?
Utility
Opportunity cost
Marginal
Disincentives
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the name given to a hypothetical unit measuring satisfaction?
Util
Utilitarian
Utility
Utilize
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for a system in which economic decisions and pricing are guided by the interactions of citizens and businesses?
Command Economy
Market Economy
Mixed Economy
Communism
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a policy of minimum governmental interference in the economic affairs of individuals and society?
Communism
Laissez Faire
Public goods
Private Property
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who is considered as the first modern economist and is influential to understanding market economies?
Karl Marx
John Maynard Keynes
Adam Smith
Milton Friedman
Create a free account and access millions of resources
Similar Resources on Wayground
19 questions
American Free Enterprise

Quiz
•
9th - 12th Grade
20 questions
Economics Chapter 1

Quiz
•
12th Grade
23 questions
2023 Econ U1 KTerms

Quiz
•
12th Grade
20 questions
Monetary and Fiscal Policy

Quiz
•
9th - 12th Grade
20 questions
Economic Systems

Quiz
•
9th - 12th Grade
20 questions
Applied Economics Take Home Quiz

Quiz
•
12th Grade
19 questions
Unit 6 - International Trade, Economics Systems

Quiz
•
12th Grade
20 questions
Introduction to Economics

Quiz
•
12th Grade
Popular Resources on Wayground
25 questions
Equations of Circles

Quiz
•
10th - 11th Grade
30 questions
Week 5 Memory Builder 1 (Multiplication and Division Facts)

Quiz
•
9th Grade
33 questions
Unit 3 Summative - Summer School: Immune System

Quiz
•
10th Grade
10 questions
Writing and Identifying Ratios Practice

Quiz
•
5th - 6th Grade
36 questions
Prime and Composite Numbers

Quiz
•
5th Grade
14 questions
Exterior and Interior angles of Polygons

Quiz
•
8th Grade
37 questions
Camp Re-cap Week 1 (no regression)

Quiz
•
9th - 12th Grade
46 questions
Biology Semester 1 Review

Quiz
•
10th Grade