Economics 1
Authored by IDA JANIS
Social Studies
11th Grade
Used 22+ times
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29 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the study of how individuals and societies satisfy their unlimited wants with limited resources
Wants
Needs
Scarcity
Economics
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
things that are necessary for survival
Wants
Needs
Scarcity
Economics
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the branch of knowledge concerned with the production, consumption, and transfer of wealth
Wants
Needs
Scarcity
Economics
4.
OPEN ENDED QUESTION
3 mins • 1 pt
Why would someone want to attend a good college (that would cost them more $ than an average college)?
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5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the relationship between wants and needs?
In economics, wants are things that are essential for human survival, while needs are things we may desire.
In economics, needs are things that are essential for human survival, while wants are things we may desire.
Needs may be helpful or make life easier, but unless we would die without them, they are not considered wants.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the alternative people give up when they make choices
Utility
incentives
economize
opportunity cost
trade-off
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
methods used to encourage people to take certain actions
Utility
incentives
economize
opportunity cost
trade-off
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