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WorksheetsEconomics Review
Total questions: 12
Worksheet time: 6mins
Name
Class
Date
1.
The amount of a goods or service that consumers are willing & able to buy
a)
Demand
b)
Economics
c)
Needs
d)
Supplu
2.
When there is not enough resources to satisfy the wants
a)
Demand
b)
Needs
c)
Supply
d)
Scarcity
3.
Food, water, shelter are examples of
a)
Wants
b)
Needs
c)
Supply
d)
Market
4.
The amount of goods or services that producers are willing and able to sell
a)
Monopoly
b)
Market Economy
c)
Resources
d)
supply
5.
Natural resources such as labor, capital are called
a)
Supply
b)
Demand
c)
Resources
d)
Needs
6.
A boat, Iphone, etra money to travel are
a)
Wants
b)
Needs
c)
Monopoly
d)
Resources
7.
The study of how an economy runs is
a)
Monopoly
b)
Resources
c)
Economics
d)
Opportunity Cost
8.
The benefit you give up by choosing to do one thing instead of another
a)
Market Economy
b)
Opportunity Cost
c)
Needs
d)
Resources
9.
Having all 3 types of the economic system is called
a)
Monopoly
b)
Opportunity Cost
c)
Resources
d)
Mixed Market Economy
10.
When one company controls an entire industry without competition.
a)
Monopoly
b)
Mixed Market Economy
c)
Resources
d)
Scarcity
11.
The money you "clear" after taxes are take out is your
a)
Net Pay
b)
Gross Pay
c)
Overtime
d)
Regular
12.
The amount of money you make BEFORE taxes are taken out of your check is
a)
Overtime
b)
Net pay
c)
Regular
d)
Gross Pay
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