Economic Decisions and Systems

Economic Decisions and Systems

9th - 12th Grade

44 Qs

quiz-placeholder

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Economic Decisions and Systems

Economic Decisions and Systems

Assessment

Quiz

Business

9th - 12th Grade

Practice Problem

Medium

Created by

Kaley Newcomer

Used 8+ times

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44 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Things that are required in order to live are known as wants.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Goods and services are purchased by businesses as well as by individuals.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Buildings, equipment, and supplies are examples of natural resources.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All economic resources have a limited supply.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The basic economic problem results from not having enough resources to satisfy every need.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The final step in the decision-making process is to select the best choice from among the alternatives.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Although all nations differ in the type and number of economic resources they have, they all have the same economic needs.

True

False

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