ECON - Semester Review pt.1
Authored by miguel rivera
Social Studies
12th Grade
Used 2+ times
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9 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is a fundamental economic problem facing all societies?
Scarcity
Abundance
Wealth
Luxury
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is the monetary worth of a good or service as determined by the market?
Price
Value
Cost
Profit
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is a basic requirement for survival?
Food
Clothing
car
ipod
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a social science dealing with how people satisfy seemingly unlimited and competing needs and wants with the careful use of scarce resources?
Economics
Biology
Physics
Chemistry
5.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
What is a capital good?
Shirt
Automobile
Machinery
Equipment
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a nondurable good?
Car
Phone
Refrigerator
Pencil
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a command economy, who makes the major decisions about WHAT, HOW, and FOR WHOM to produce?
Government
Consumers
Producers
Marketers
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