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Econ Ch. 1 Quiz

Authored by Peyton Zeigler

Social Studies

12th Grade

Used 3+ times

Econ Ch. 1 Quiz
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16 questions

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1.

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1 min • 1 pt

______________ is the condition that results from society not having enough resources to produce all the things people would like to have.

2.

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1 min • 1 pt

_____________ is the study of how people try to satisfy seemingly unlimited and competing needs and wants through careful use of relatively scarce resources.

3.

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1 min • 1 pt

__________ is work that is performed for someone.

4.

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1 min • 1 pt

__________ is the capacity to be useful and/provide satisfaction.

5.

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1 min • 1 pt

A ________ is a basic requirement for survival.

6.

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1 min • 1 pt

________ refers to the "gifts of nature," or natural resources not created by people.

7.

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1 min • 1 pt

These individuals are ______________, risk-takers in search of profits who do something new with existing resources.

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