Independent Living Final Exam Review

Independent Living Final Exam Review

10th Grade

66 Qs

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Independent Living Final Exam Review

Independent Living Final Exam Review

Assessment

Quiz

Special Education

10th Grade

Practice Problem

Hard

Created by

Brad Daubach

Used 1+ times

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66 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT considered a natural resource used in the production of goods and services?

Water

Trees

Money

Oil

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is described as the mismatch of unlimited wants and needs against limited economic resources?

Economic disparity

Basic economic problem

Market fluctuation

Resource allocation

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of economy is characterized by consumer-driven decisions on what goods to produce?

Command economy

Traditional economy

Market economy

Mixed economy

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What tends to happen to a product's price when there is heavy competition in the market?

The price increases

The price remains stable

The price decreases

The price is regulated by the government

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is considered a capital resource?

A pickup truck

A factory

Lumber

Employees

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The value of the next-best alternative that you did not choose is called:

Tradeoff

Scarcity

Opportunity cost

Economic cost

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a country decides to focus on advanced technology and a skilled labor force, it is primarily answering which of the basic economic questions?

What to produce?

How to produce?

Which needs to satisfy?

Which wants to satisfy?

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