Economics/Manufacturing Quiz

Economics/Manufacturing Quiz

11th Grade

23 Qs

quiz-placeholder

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Economics/Manufacturing Quiz

Economics/Manufacturing Quiz

Assessment

Quiz

Social Studies

11th Grade

Easy

Created by

Scott Symons

Used 1+ times

FREE Resource

23 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a factor of production?

Land

Labor

Capital

Taxes

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An increase in demand with no change in supply will result in:

Lower prices

Higher prices

No change in prices

A decrease in quantity supplied

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which concept is illustrated by a point inside the PPC?

Efficiency

Unemployment or underutilization of resources

Economic growth

Impossible production levels

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following scenarios represents scarcity?

A bakery has unlimited flour

A country has limited resources but unlimited wants

A manufacturer producing goods at full capacity

A store offering discounts on surplus items

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A point outside the PPC represents a production level that is currently unattainable.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Labor is an example of a factor of production.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When demand decreases, the equilibrium price of a good generally increases.

True

False

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