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Ch. 1 Review

Authored by Amanda Wallace

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Used 13+ times

Ch. 1 Review
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The process of choosing which needs and wants will be satisfied.

economic decision making
needs
wants
goods
services

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

A person who buys and uses goods and services

consumer
needs
wants
goods
services

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

An economy in which the resources are owned and controlled by the people of the country.

market economy
needs
wants
goods
services

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Activities provided for the satisfaction of others that are consumed at the same time they are produced.

services
needs
wants
goods
economic resources

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The point where supply and demand are equal.

market price
needs
wants
goods
services

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The value of the next-best alternative that you were noble to choose.

opportunity cost
needs
wants
goods
services

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Things that are required in order to live.

needs
wants
goods
services
economic resources

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