AP Macro - 1.1 - Scarcity
Authored by Garrett Mould
Social Studies
11th Grade
Used 5+ times
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7 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the difference between macroeconomics and microeconomics?
Macroeconomics studies scarcity while microeconomics does not
Microeconomics studies the actions of governments while macroeconomics does not
Microeconomics focuses on the decisions of individuals and firms, while macroeconomics studies entire economies
Macroeconomics studies the factors of production, while microeconomics studies other types of resources
2.
FILL IN THE BLANKS QUESTION
1 min • 1 pt
(a) refers to the skills and abilities that workers use to help produce a good or service.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a factor of production
Entreprenuership
Money
Capital
Labor
4.
OPEN ENDED QUESTION
3 mins • 1 pt
Explain one way that you face the problem of scarcity in your own life.
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5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The factory building that is used by a paper company is an example of...
land
capital
labor
entreprenuership
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The aluminum used to produce Coca Cola cans is an example of...
land
labor
capital
entrepreneurship
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
David decides to purchase vehicles, hire drivers, and make connections with local businesses to start a shipping and logistics company. This is an example of...
labor
capital
entrepreneurship
human capital
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