Economics Quiz

What is a good?

• A service provided by someone

• A useful, physical object

• An idea or concept

• A digital file

What is a service?

• A physical item

• Work done for someone else

• A type of good

• A digital product

What is the role of advertising in consumer behavior?

• It reduces consumption

• It suggests purchasing goods and services

• It eliminates wants

• It provides free goods

What is one of the options Pizzavanians consider for producing pizzas?

• Importing pizzas from other countries.

• Employing more workers for handmade pizzas.

• Using robots to deliver pizzas.

• Building a pizza museum.

What is a potential benefit of focusing on large manufacturing complexes?

• Lower quality goods.

• Higher cost of production.

• Efficient production

• Increased unemployment.

What is one of the priorities for societies when resources are scarce?

• Building amusement parks.

• Constructing efficient transportation systems.

• Developing new languages.

• Increasing the number of holidays.

What is the role of entrepreneurs in the factors of production?

• They provide natural resources

• They contribute labor

• They organize and manage the other factors

• They supply capital goods

Which factor of production includes mineral deposits?

• Labor

• Capital

• Land

• Entrepreneurs

What is an example of labor in the production process?

• A television repairman

• A factory

• A mineral deposit

• A commercial oven

What is required for businesses to purchase necessary tools and equipment?

• Human capital

• Financial capital

• Natural resources

• Intellectual property