
Unit 2: Quiz 2 "Prcatice Questions"
Authored by Olivia Salzwedel
Business
9th Grade
Used 3+ times

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25 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Complete the sentence:
The distribution of a good or service is called _____.
scarcity
allocation
economics
none of the above
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Complete the sentence:
When there are unlimited wants and needs with limited resources, _____ occurs.
scarcity
allocation
economics
none of the above
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Complete the sentence:
Every economy has _____ that are used to produce the goods and services that people want and need.
limited resources
unlimited wants and needs
unlimited resources
none of the above
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Complete the sentence:
Once a problem of scarcity has been identified, the _____ of how these limited resources will be used needs to be decided.
economics
allocation
plan
scarcity
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
_____ is one way to measure the size of a country's economy.
Allocation
GDP
GPD
Scarcity
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The correct formula to measure the GDP is _____.
GDP = C - G - I + (X-M)
GDP = C + G + I + (X-M)
GDP = C + G + I - (X-M)
GDP = C - G - I - (X-M)
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An example of consumer spending when calculating the GDP using the expenditures approach is _____.
food
salaries of public employees
construction of a new mine
none of the above
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