
Economics Ch.1
Quiz
•
History
•
12th Grade
•
Practice Problem
•
Easy
Renee Phelps
Used 2+ times
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25 questions
Show all answers
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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