
Factors of Production
Authored by Wayground Content
Social Studies
12th Grade
Used 14+ times

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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Petroleum is an example of...
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A herd of cattle is an example of ...
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A command economy is best defined as an economic system where
a central authority, such as the government, makes major economic decisions
supply, demand, and the price system help people make economic decisions
private citizens own and use the factors of production in order to generate profits.
there is some combination of traditional, command, and market activities.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A new factory that will increase production would be considered ...
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A product or service is scarce when
The amount available is not enough to meet the demands of society
The amount available can satisfy the demands of society
Its price far exceeds the value of the item.
One company is responsible for producing the product.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The Chromebooks you are using are examples of
Capital
Land
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A market economy is best defined as a system in which
a central authority that makes major economic decisions
supply, demand, and the price system help people make economic decisions
private citizens own and use the factors of production in order to generate profits.
there is a combination of traditional, command, and market activities.
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