Economic Concepts Quiz
Authored by Cory Benson
Business
11th Grade
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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