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Economics Final Review Part 1

Authored by Mitchell Gleason

Social Studies

9th Grade

Economics Final Review Part 1
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25 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a topic covered in microeconomics?

inflation

the causes of an economic recession

the effect of a price increase on a specific good

unemployment rates

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is covered in macroeconomics?

the supply of a specific good

the job market for first-year teachers

unemployment rates

A and B

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a responsibility of consumers?

weighing options

reading information about products before purchasing

searching for the store with the lowest price

A, B, and C

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a service?

changing a tire

a diamond ring

a microwave oven

B and C

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT an example of a need?

clothing

food

water

college education

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

You know that you have two options to keep yourself busy on a Friday night. One choice is to study for a test next week, while the other is to go to a basketball game. Which of the following statements is TRUE regarding the opportunity cost?

The opportunity cost of studying for your test is the time spent attending the game.

The opportunity cost of attending the basketball game is the time spent studying for your test.

There is no opportunity cost associated with either event.

both A and B

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The sum of a population's skills, abilities, health, knowledge, and motivation is called

productivity.

labor.

wealth.

human capital.

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