Economic Resources and Markets Quiz

What are the two types of resources mentioned?

• Renewable resources and Non-renewable resources

• Free resources and Economic resources

• Natural resources and Human resources

• Scarce resources and Abundant resources

What is the reward for labor called?

• Interest

• Rent

• Wage

• Profit

Which of the following is an example of a renewable resource?

• Solar energy

• Coal

• Natural gas

• Aluminum

What is the reward for land services known as?

• Rent

• Wage

• Profit

• Interest

Which market is where households purchase consumable goods?

• Goods and services market

• Capital market

• Financial market

• Labor market

What does conservation of natural resources NOT include?

• Recycle

• Exhaust

• Reduce

• Reuse

What is the reward for entrepreneurship called?

• Interest

• Profit

• Rent

• Wage

Which of the following is a non-renewable resource?

• Trees

• Coal

• Geothermal pressure

• Wind energy

What is the primary focus of the labor market?

• Exchanging natural resources

• Trading financial assets

• Providing labor services

• Buying and selling goods

What is the definition of a market?

• A place where goods are produced

• An institution for exchanging goods and services

• A type of economic resource

• A method of conserving resources