Economic Concepts Quiz

Economic Concepts Quiz

11th Grade

24 Qs

quiz-placeholder

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Economic Concepts Quiz

Economic Concepts Quiz

Assessment

Quiz

Business

11th Grade

Practice Problem

Medium

Created by

Cory Benson

Used 1+ times

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24 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which country is known for having a command economy?

North Korea

England

Spain

The United States

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not true about the factors of production?

A) They are used to produce goods and services.

B) The categories include natural resources, human resources, capital resources, and entrepreneurship.

C) They are unlimited in supply.

D) They are essential for economic activity.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

They are the building blocks of all economies. What are they?

Factors of production

Natural resources

Capital resources

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Nonrenewable resources include ________.

water

soil

gold

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Renewable resources replenish ________.

very slowly

quickly

not at all

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not a factor of production?

Land

Labor

Money

7.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

The factors of production can be ________.

renewable

exhaustible

both

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