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Basic Economic Language quiz

Authored by KEVIN THOLIN

Social Studies

12th Grade

Used 1+ times

Basic Economic Language quiz
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best describes a tangible item?

Something that can be felt by touch, like a book or a car.

Something that cannot be seen or touched, like friendship.

Anything that is digital.

An idea or a thought.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an example of an intangible item?

A car

A book

Friendship

A chair

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to the material, what is a "good"?

Anything that can be sold in a store

Anything that satisfies a person’s wants or brings satisfaction

Only physical objects

Only services provided by others

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Classify the following as tangible or intangible: Knowledge, Car, Experience, Book.

Knowledge and Experience are tangible; Car and Book are intangible.

Knowledge and Experience are intangible; Car and Book are tangible.

All are tangible.

All are intangible.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why might a service such as teaching be considered intangible?

Because it can be touched and seen

Because it is a physical object

Because it cannot be felt by touch and is based on knowledge and experience

Because it is always free

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term used to describe something that brings dissatisfaction or unhappiness?

Utility

Intangible

Disutility

Service

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best describes services?

Services are tangible products you can touch.

Services are tasks performed by machines only.

Services are intangible tasks performed by people for others.

Services are goods that bring utility.

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