economics

economics

Professional Development

35 Qs

quiz-placeholder

Similar activities

Magruder  23.1 (Economic Systems Compared)

Magruder 23.1 (Economic Systems Compared)

6th Grade - Professional Development

30 Qs

Festa Game of Thrones

Festa Game of Thrones

Professional Development

30 Qs

Unit 3 (Mesopotamia) FULL review

Unit 3 (Mesopotamia) FULL review

6th Grade - Professional Development

35 Qs

Ethics-Virtue

Ethics-Virtue

Professional Development

30 Qs

Public International Law

Public International Law

Professional Development

35 Qs

Agenda 1/2/3, Latsar CPNS

Agenda 1/2/3, Latsar CPNS

Professional Development

30 Qs

Art of Thinking - Grade 6 Assessment Standards

Art of Thinking - Grade 6 Assessment Standards

Professional Development

39 Qs

1965 Alabama Voter Literacy Test

1965 Alabama Voter Literacy Test

9th Grade - Professional Development

35 Qs

economics

economics

Assessment

Quiz

Social Studies

Professional Development

Practice Problem

Medium

Created by

Jade Wilkes

Used 1+ times

FREE Resource

AI

Enhance your content in a minute

Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...

35 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is scarcity in economics?

When there are insufficient resources to meet society's wants and needs

The value of the next-highest-valued alternative use of a resource

States that human wants and needs are not fixed but unlimited

An increase in consumers leads to an increase in demand

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does opportunity cost refer to?

The assumption that human nature is to acquire more

The value of the next-highest-valued alternative use of a resource

An increase in demand for lower priced products

The ownership associated with assessing risk and reward

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the free-market theory state?

Human wants and needs are fixed and limited

Human wants and needs are not fixed but unlimited

An increase in consumers leads to an increase in demand

Future expectations about price can affect demand

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the effect of changes in the number of consumers?

Leads to a decrease in demand

Leads to an increase in demand and vice versa

Has no effect on demand

Only affects supply

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is capital in economic terms?

All human resources used to produce goods

Man-made tools and materials used in the production process

All natural resources, including renewable and nonrenewable

The behavior of an individual economic agent

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does microeconomics focus on?

The overall performance of an economy

The behavior of an individual economic agent

Inflation and unemployment

Economic growth

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What effect does an improvement in technology have on supply?

Decreases supply

Increases supply

No effect on supply

Decreases demand

Create a free account and access millions of resources

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

By signing up, you agree to our Terms of Service & Privacy Policy

Already have an account?