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Economics Ch.1

Authored by Renee Phelps

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12th Grade

Used 2+ times

Economics Ch.1
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25 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A need is fulfilled by ______.

video games

food

jewelry

movie tickets

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The study of how people choose to use scarce resources to satisfy their wants is called __.

choice

economics

entrepreneurship

scarcity

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The ongoing tension of not having enough resources to meet human wants is called

need

scarcity

shortage

surplus

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Physical products that can be purchased are called

bonds

services

goods

stocks

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The human time, effort, and talent that go into the making of products is called

captial

labor

knoledge

scarcity

6.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

What three economic questions does scarcity require every society to address? Mark all that apply

What will be produced?

What is the price of the produce?

How will it be produced?

For whom will it be produced?

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Benefits offered to encourage people to act in certain ways are _____

incentives

motives

utilities

wants

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