
Quiz: The Three Basic Economic Questions
Authored by GRISELDA MONTOYA
Social Studies
12th Grade
Used 3+ times

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25 questions
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1.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Which of the following is one of the three basic economic questions?
How should goods and services be distributed internationally?
What goods and services should be produced?
What laws should regulate the economy?
Which resources should be protected?
2.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
The question “How should goods and services be produced?” is mainly concerned with:
The method of production
Who consumes the product
What goods to produce
Government taxation
3.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
The question “Who consumes goods and services?” addresses:
a. Distribution of resources
b. Efficiency of production
c. Freedom of choice
d. Environmental protection
4.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Which of the following is NOT an economic goal?
Economic equity
Economic efficiency
Military conquest
Economic freedom
5.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Economic freedom means:
Government makes all decisions
People can make their own choices
Businesses operate without rules
Everyone has the same income
6.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Economic equity refers to:
Fairness in wealth and opportunity
Unlimited production
Growth and innovation
Efficiency in using resources
7.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Which goal is about using resources wisely?
Economic growth
Economic efficiency
Federalism
Equity
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