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Economics_main concepts

Authored by Jessica Collins

Business

9th Grade

Used 2+ times

Economics_main concepts
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20 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The economic problem will always be solved.

TRUE

FALSE

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The economic problem is that we have _ wants and _ resources.

Limited

Unlimited

Unlimited

Limited

Goods

Services

Economic

Natural

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Economics is a social science studying people & choices.

TRUE

FALSE

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Economics studies how societies, governments, businesses, and households allocate their scarce resources.

TRUE

FALSE

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following is not an economic resource?

Capital

Human Resources

Natural resources

Market resources

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The 3 questions economies are trying to answer are:

What to make

How to make it

Who to make it for

What to make

How much of it to make

When to make it

What to make

How to make it

How much of it to make

What to make

Who to make it for

Which market to make it fo

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The Father of Economics, Adam Smith, believed in what type of economy?

Market economy

Mixed economy

Supply economy

Traditional economy

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