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Michigan Economics

Total questions: 13

Worksheet time: 7mins

Name
Class
Date
1.

Which of the following is a human resource?

a)

A baby

b)

Trees

c)

Hammer and Nails

d)

A cashier at the store

2.

Which word means when there is not enough of a good or service for everyone?

a)

Economics

b)

Scarcity

c)

Opportunity Cost

d)

Unlucky

3.

Which term means a choice that you give up when you choose something else?

a)

Opportunity Cost

b)

Manufacturing

c)

Capital Resource

d)

Economy

4.

The study of how people use limited resources to make goods and services that people need and want is:

a)

Manufacturing

b)

Export

c)

Renewable Energy

d)

Economics

5.

Workers who are used in the production of goods and services are:

a)

Human Resources

b)

Natural Resources

c)

Capital Resources

d)

Limited Resources

6.

Goods that are used to produce other goods and services are:

a)

Human Resources

b)

Natural Resources

c)

Capital Resources

d)

Limited Resources

7.

Something that is found in nature that can be used by people is:

a)

Human Resources

b)

Natural Resources

c)

Limited Resources

d)

Capital Resources

8.

What is the process of making goods called?

a)

Agriculture

b)

Energy

c)

Manufacturing

d)

Economy

9.

When people go on vacation to a specific area and spend money, we call this:

a)

Tourism

b)

Summer Vacation

c)

Economics

d)

Agriculture

10.

What is an opportunity cost?

a)

A tax

b)

When a business gives you a discount

c)

What you pay to enter a park

d)

What you give up when you make a different choice

11.

What does agriculture mean?

a)

Learning about other cultures

b)

Farming

c)

Making Goods

d)

Studying the economy

12.

Choose all of the fossil fuels

a)

Wind

b)

Coal

c)

Natural Gas

d)

Sun

e)

Oil

13.

Choose all of the renewable energy sources

a)

Coal

b)

Sun

c)

Oil

d)

Water

e)

Wind