business
Authored by masha masha
English
8th Grade
Used 1+ times
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33 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
what are needs?
things that are needed to have
things that have a lot of priority in life
things that are necessary for survival, that we cannot live without
things that we would really like to have
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
what are wants?
things that we would like to have, that are not necessary for survival
things that everyone has
things that people use everyday
things that are always needed
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
what is scarcity?
when there are unlimited wants and unlimited resources
when there are unlimited wants that cannot be met by the limited resources
when there are limited wants and limited resources
when something is less than the other
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
what is the correct order?
choice, opportunity cost, scarcity
opportunity cost, choice
choice, scarcity, opportunity cost
scarcity, choice, opportunity cost
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
opportunity cost is defined as the next best alternative forgone, in terms of a choice made
true
false
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
what are the 4 factors of production?
land, labor, capital, manager
land, labor, money, enterprise
land, labor, capital, enterprise
land, entrepreneur, money, products
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
land is all the natural resources that is used to make other goods and services.
what is an example of land?
fish
money
sheep
building
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