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WorksheetsEconomic Decision Making
Total questions: 8
Worksheet time: 6mins
Name
Class
Date
1.
What is a need?
a)
Things that are not necessary for survival, but add comfort to your life.
b)
Things required to live.
c)
Things you can see or touch.
d)
Actvities that are consumed at the same time they are produced.
2.
What are goods?
a)
Things required to live.
b)
Activities that are consumed at the same time they are produced.
c)
Things you can see and touch.
d)
Things that are not necessary for survival.
3.
Which of the following is a need?
a)
Haircut
b)
Smart Phone
c)
Housing
d)
Socks
4.
What is a service?
a)
Things that are not necessary for survival.
b)
Activities that are consumed at the same time they are produced.
c)
Things you can see and touch.
d)
Things required to live.
5.
Which of the following describes a natural resource?
a)
Tools
b)
Money
c)
Labor
d)
Iron
6.
Capital resources include which of the following?
a)
Equipment
b)
Oil
c)
Labor
d)
People
7.
An example of a human resource is which of the following?
a)
Wood
b)
Supplies
c)
Labor
d)
Money
8.
The process of deciding alternatives to certain wants to determine which is best is called?
a)
Needs
b)
Decision Making
c)
Goods
d)
Capital Resources
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