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WorksheetsEconomics Unit 1
Total questions: 14
Worksheet time: 11mins
Economics is the study of how people seek to satisfy their needs and wants by making choices.
True
False
Which is an example of a renewable resource?
Timber
Windpower
Water
All of the above
____________ is actually your next best alternative or if you think like your parents what they gave up bring you to school. Everything has a cost
Scarcity
Please complete the following sentence: ____ are people whose efforts and skills go into the production of goods and services.
Labor
Markets
Economics
Resources
All of the following are factors of production except
Land
Money
Labor
Capital
natural and labor resource
human and capital resource
when you are penalized on a test
I thought it was a good idea to get a dog. I didn't know it would keep me up at nite barking at the neighbors dog.
Benefit would outweigh the Cost
Consequences Count in the Future
I already ate 5 slices of pizza and i almost feel sick. Should I eat one more?
I only have 20 dollars,I could spend it on a steak dinner, put gas in my car or go to a movie, I choose a steak dinner. What was my opportunity cost
Gas in my car
Go to a movie and gas in my car
$20
Time
