Econalive Lesson

Econalive Lesson

11th - 12th Grade

25 Qs

quiz-placeholder

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Econalive Lesson

Econalive Lesson

Assessment

Quiz

Social Studies

11th - 12th Grade

Hard

Created by

Patricia White

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25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is one of the four factors of production?

productivity

goods

entrepreneurship

services

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

As an economic term, land includes __________________.

work people do

natural resources

machinery

knowledge

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All economic choices involve _________________.

trade-offs

destruction of resources

shortages

tax dollars

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What trade-off is involved when you buy a CD?

exchanging time for money

exchanging one service for another

exchanging money for goods

exchanging goods for services

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economic models are useful because they _________________.

show the way people react to changes in the economy

provide every detail about a problem to be studied

judge the value of economic events

make testing hypotheses unnecessary

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a visual aid that helps a business determine how best to use its resources?

opportunity cost

trade-off

production possibilities curve

scarcity

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why can't economic models judge whether policies are good or bad?

models are not good enough

models are not based on fact

judgements depend on values

Economists do not test their hypotheses

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