Unit 1 Econ test
Quiz
•
Business
•
9th - 12th Grade
•
Practice Problem
•
Easy
Darek Tillman
Used 2+ times
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30 questions
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1.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
What is scarcity?
The abundance of resources
The fundamental problem facing all societies due to not having enough resources
The study of economics
A way of expressing a need.
2.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Define economics.
Economics is the study of how people try to satisfy what appears to be unlimited wants and needs with limited/scarce resources.
Economics is the study of ancient civilizations and their cultures.
Economics is the study of celestial bodies and their movements.
Economics is the study of languages and their evolution.
3.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
What are needs?
A way of expressing a need
Basic things for survival
Unlimited wants
Limited resources.
4.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Which of the following is considered a luxury?
Food
Clothing
Car
Shelter
5.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Which of the following is a necessity?
Car
Food
Jewelry
Yacht
6.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
What is the primary difference between luxuries and necessities?
A) Luxuries are essential for survival, necessities are not.
B) Necessities are essential for survival, luxuries are not.
C) Both are equally important.
D) Neither is important.
7.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
What is NOT one of the three main economic choices?
What to produce?
How to produce?
For whom to produce?
When to produce
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