Economics Quiz

What is defined as anything that gives a person utility or satisfaction?

• Goods

• Scarcity

• Bad

• Resources

Which term refers to the dissatisfaction one receives from a bad?

• Capital

• Disutility

• Entrepreneurship

• Utility

What includes natural resources such as minerals, forests, and water?

• Capital

• Scarcity

• Land

• Labor

What is the term for the talent some people have for organizing resources in production?

• Entrepreneurship

• Disutility

• Labor

• Goods

What condition arises when our wants are greater than the limited resources available?

• Goods

• Utility

• Scarcity

• Resources