
CGHS Economics Ch. 1 Vocab Quiz - 2024
Social Studies
9th Grade
Used 3+ times

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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is scarcity?
The abundance of resources to satisfy all wants
A condition where resources are limited to satisfy unlimited wants
The surplus of goods and services
The excess of supply over demand
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are productive resources?
The outputs of goods and services
The inputs used to produce goods and services
The waste products of production
The surplus resources in an economy
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does economics study?
The unlimited resources available
How people use scarce resources to satisfy unlimited wants
The abundance of natural resources
The surplus of goods in the market
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are human resources?
Only physical efforts used in production
Only mental efforts used in production
Both physical and mental efforts used to produce goods and services
The natural resources used in production
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is labor?
The natural resources used in production
The physical and mental effort used to produce goods and services
The capital used in production
The surplus of goods in the market
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who is an entrepreneur?
Someone who consumes goods and services
Someone who tries to earn a profit by developing new products or improving existing ones
Someone who provides labor for production
Someone who uses natural resources for production
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are natural resources?
Man-made creations used in production
Gifts of nature used to produce goods and services
The surplus resources in an economy
The waste products of production
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