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WorksheetsPoB - Quiz 1b
Total questions: 12
Worksheet time: 6mins
Using a stream to supply water to a field in order to grow crops is an example of using . .
human resources
natural resources
capital goods
nonrenewable resources.
Which of the following occurs when the supply of individuals who are able and willing to work diminishes:
Capital goods become unlimited.
Capital goods become limited.
Human resources become limited.
Human resources become unlimited.
Which of the following economic resources is responsible for combining the other resources to produce goods and services:
Human resources
Natural resources
Capital goods
Nonrenewable resource
Which one of the following groups of words best describes wants:
Limited, changing, and compensating
Unlimited, changing, and competing
Limited, unchanging, and competing
Unlimited, unchanging, and compensating
In economics, the term capital goods includes
labor and management.
buildings and equipment.
trees and water.
mental and physical work.
What are the three basic economic questions?
What products will be produced; how will products be produced; and how will products be allocated?
When will products be produced; how will products be produced; and how will products be allocated?
When will products be produced; what products will be produced; and how will products be allocated?
Where will products be produced; when will products be produced; and what products will be produced?
To discover a product's level of utility, marketers measure the consumer's
desire.
perspective.
attitude.
satisfaction.
Changing a good's form involves which of the following:
Making sure the good is available early.
Getting the good to the retailer.
Adding a new feature to the good.
Providing an easy was to buy the good.
When marketers provide information about an available product, consumers are more likely to
requesting a payment plan.
ask questions about the product.
buy the product.
put the product on layaway.
Government owns the basic means of production but there is some private ownership of businesses under
capitalism.
communism.
socialism.
entrepreneurship.
The way in which an economic system answers the basic economic questions depends upon the country's
demand.
supply.
government.
resources.
In a communist command economy who decides how the economic questions will be answered?
Government
Individuals
Businesses
Venture Team
