Economic Basics
Quiz
•
Social Studies
•
12th Grade
•
Practice Problem
•
Medium
Robert Hennecy
Used 2+ times
FREE Resource
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25 questions
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1.
MULTIPLE CHOICE QUESTION
3 mins • 4 pts
The capacity to be useful and provide satisfaction?
want
need
service
utility
2.
MULTIPLE CHOICE QUESTION
3 mins • 4 pts
True or False:
In order to produce the goods and services we want, only only land, labor, and capital are required.
False
True
3.
MULTIPLE CHOICE QUESTION
3 mins • 4 pts
A tool such as machinery or equipment that is used by businesses to produce other products?
capital good
durable good
consumer good
non-durable good
4.
MULTIPLE CHOICE QUESTION
3 mins • 4 pts
The factors of production are?
land, labor, utilities, services
capital, entrepreneurs, labor, land
capital, labor, needs, wants
labor, entrepreneurs, services, needs
5.
MULTIPLE CHOICE QUESTION
3 mins • 4 pts
What is the study of how people try to satisfy seemingly unlimited and competing needs and wants through the careful use of relatively scarce resources?
capital goods
durable goods
productivity
economics
6.
MULTIPLE CHOICE QUESTION
3 mins • 4 pts
Work that is performed for someone?
utility
service
resource
durable good
7.
MULTIPLE CHOICE QUESTION
3 mins • 4 pts
Risk takers in search of profits who do something new with existing resources?
proprietors
outsiders
trend setters
entrepreneurs
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