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Chapter 1 Review (from notes) Part I

Authored by C.J. Schmidt

Financial Education

12th Grade

Used 1+ times

Chapter 1 Review (from notes) Part I
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25 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is considered a "need"?

Smartphone

Shelter

Designer clothing

Vacation

Video game console

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a service?

A refrigerator

A haircut

A smartphone

A book

A bicycle

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is "human capital"?

Natural resources used in production

The physical tools and equipment used in production

The knowledge and skills a worker gains through education and experience

Money used to invest in businesses

The number of workers available in an economy

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a factor of production?

Land

Labor

Capital

Technology

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of physical capital?

A college education

A factory building

Natural gas

A workforce

Government bonds

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is considered a natural resource?

A factory machine

Timber used in construction

A smartphone

A trained workforce

A college degree

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which factor of production is most directly associated with 'human resources'?

Land

Labor

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