PFL Unit 1 Test

PFL Unit 1 Test

12th Grade

25 Qs

quiz-placeholder

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PFL Unit 1 Test

PFL Unit 1 Test

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Easy

Created by

Laura Kalokowski

Used 3+ times

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25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economics is the study of how people use _______ to satisfy ___________.

money, trends

banks, credit requirements

limited resources, unlimited wants and needs

technology, social media

2.

FILL IN THE BLANK QUESTION

1 min • 1 pt

People must make choices because of _____________.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Another name for resources is ____________?

production possibilites

supply

demand

factors of production

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A teacher, an app designer, a radiologist

These are all examples of

Land

Labor

Capital

Entrepreneurship

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The following FOPs are correctly matched with their facor payment - T/F

Capital - Interest

Entrepreneurship - Profit

Land- Wages

Labor - Rent

True

False

6.

FILL IN THE BLANK QUESTION

1 min • 1 pt

A trade-off is what you ____________ when you make a choice.

7.

DRAW QUESTION

3 mins • 1 pt

Label the point where this economy would be producing inefficiently as point A.

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