Economics: Unit 1 Exam Prep
Authored by Cale Hoover
Social Studies
12th Grade
Used 6+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these is an example of a natural resource?
highway
forests
truck
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these productive resources includes factories, tools, trucks, machines, and computers?
human resources
natural resources
capital goods
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Most economies today are
pure market economies
traditional economies
mixed economies
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of economy makes the highest standard of living for its citizens?
market-oriented
traditional
transitional
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to the law of comparative advantage, the country with the lowest opportunity cost of producing a particular good should
specialize in that good.
outsource production.
import foreign worker.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which factor would be the best to help an economy to grow?
lowering education
cleaner air
labor force increases
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a pure command economy which of the following occurs
living space is sold in the free market
decisions are based on tradition
resources are controlled.
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