Paige Day #1
Quiz
•
Social Studies
•
7th Grade
•
Practice Problem
•
Easy
Kristen Balser
Used 1+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is scarcity?
Having unlimited resources
The inability to satisfy all wants at the same time
Having enough money to buy everything
When resources are abundant
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is opportunity cost?
The monetary cost of an item
The total cost of production
What you give up when making a choice
The cost of labor and materials
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a type of resource used in production?
Natural resources
Human resources
Entertainment resources
Capital resources
4.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Why do individuals have to make choices about goods and services?
Because they want to save money
Because they enjoy shopping
Because goods and services are unlimited
Because goods and services are limited
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Production involves combining which of the following?
Only natural and human resources
Only capital and entrepreneurship
Human, natural, capital, and entrepreneurship resources
Only money and labor
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main reason for scarcity?
People don't work hard enough
Unlimited wants with limited resources
Poor government planning
Lack of technology
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When you make a choice, how many choices are you actually making?
One choice
Two choices
Three choices
Four choices
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