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seniors ECON FINAL EXAM

Authored by Avery Webb

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seniors ECON FINAL EXAM
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46 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Which is NOT an examples of a public good?

Roads
Bridges
Military
Banks

2.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Any resources that are made by humans and used to create other goods and service are called:

Services
Production
Capital
Factories

3.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Which is NOT a factor of production?

Land
Labor
Capital
Scarcity

4.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Which Scenario is best an example of a Shortage:

Water available to irrigate crops because its used to water a golf course.
Bananas go up in price to $3 a Banana
There is no oil because countries do not want to sell it in American dollars. They want to sell it in Bitcoin
You have 1 hour to finish this test.

5.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

The opportunity cost is your NEXT best option in making a decision.

True
False

6.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Which statement best describes the principle of scarcity

Some goods cost more than others
All resources are scarce.
Some things are needs some things are wants.
Some People have more goods than others.

7.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

What is a factory building an example of?

Human Capital
Physical Capital
Land
Child Labor

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