16.08.2025
Authored by tran tai
Business
Professional Development
Used 1+ times
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94 questions
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1.
OPEN ENDED QUESTION
3 mins • 1 pt
Explain the basic economic problem of scarcity.
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2.
OPEN ENDED QUESTION
3 mins • 1 pt
Distinguish between needs and wants.
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3.
OPEN ENDED QUESTION
3 mins • 1 pt
Define factors of production and give an example of each.
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4.
OPEN ENDED QUESTION
3 mins • 1 pt
Explain why scarcity results in choice.
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5.
OPEN ENDED QUESTION
3 mins • 1 pt
What is meant by opportunity cost?
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6.
OPEN ENDED QUESTION
3 mins • 1 pt
Distinguish between free goods and economic goods.
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7.
OPEN ENDED QUESTION
3 mins • 1 pt
Define an economic system.
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