BM: PART 2

BM: PART 2

University

31 Qs

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BM: PART 2

BM: PART 2

Assessment

Quiz

Business

University

Practice Problem

Easy

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31 questions

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1.

FILL IN THE BLANK QUESTION

5 sec • 1 pt

The need to make choices because economic wants are unlimited but means (income, time, resources) for satisfying wants are limited.

2.

FILL IN THE BLANK QUESTION

5 sec • 1 pt

The land, labor, capital and entrepreneurial

ability that used in the production of goods and

services.

3.

FILL IN THE BLANK QUESTION

5 sec • 1 pt

It includes all-natural resources (“gift of

nature”) used in the production processes, such as

arable land, forests, minerals and oil deposits, and

water resources.

4.

FILL IN THE BLANK QUESTION

5 sec • 1 pt

It consists of physical and mental talents of

individuals used in producing goods and services. The

services of a logger, retail clerk, beautician, teacher,

professional hockey player, basketball player, and

physicist all fall under the “labor”.

5.

FILL IN THE BLANK QUESTION

5 sec • 1 pt

Human-made resources (buildings,

machinery and equipment, storage facility, and

others) used to produce goods and services.

6.

FILL IN THE BLANK QUESTION

5 sec • 1 pt

The human talents that

combined the other resources to produce a product,

make decisions, innovate and bear risks.

7.

FILL IN THE BLANK QUESTION

5 sec • 1 pt

A schedule or curve that allows various

combinations of two products a consumer can

purchase with a specific money income.

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