Economic Fundamentals Study

Economic Fundamentals Study

12th Grade

19 Qs

quiz-placeholder

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Economic Fundamentals Study

Economic Fundamentals Study

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Medium

Created by

Drew Phillip

Used 10+ times

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19 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these most directly contributes to the problem of economic scarcity?

People have unlimited wants for goods and services.

People must earn money to provide for their families.

People have to pay taxes to governments for services.

People must take risks to create and improve technology.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How could a lack of entrepreneurs affect an economy?

increased interest rates

decreased job opportunities

decreased government regulation

increased educational opportunities

3.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Select the four factors of production.

Capital

Labor

Land

Entrepreneurs

Global

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Technology and transportation are considered what type of resources?

Capital

Industrial

Cultural

Movement

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The workers in a factory are considered what type of resource?

Natural

Human

Capital

Entrepreneurship

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A bulldozer is an example of what type of resource?

Capital

Entrepreneurship

Natural

Human

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Trees are an example of what type of resource?

Capital

Natural

Human

Entrepreneurship

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