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Satisfying Needs And Wants
Test Description: Review for 1st Semester Final
Instructions: Answer all questions to get your test result.
1) Shelter is an example of a
A
Natural Resource
B
Need
C
Service
D
Human Resource
2) Activities that are consumed at the same time they are produced
A
Needs
B
Goods
C
Services
D
Wants
3) Raw materials supplied by nature are
A
Capital Resources
B
Natural Resources
C
Human Resources
D
Traditional Resources
4) The risk taker who uses resources in an entirely new way to create a new product or service is a(n)
A
Business Owner
B
Buyer
C
Creator
D
Entreprenuer
5) Buildings, equipment, and supplies are examples of
A
Traditional Resources
B
Capital Resources
C
Human Resources
D
Natural Resources
6) Things that are required in order to live are
A
Services
B
Needs
C
Goods
D
Wants
7) Which of the following is NOT an example of a human resource
A
Computer
B
Factory Worker
C
Beautician
D
Cashier
8) Which of the following is NOT an example of a natural resource
A
Fish
B
Hammer
C
Tree
D
Oil
9) A LCD Television is an example of an
A
Good and Want
B
Need and Service
C
Need and Good
D
Good and Service
10) Economic Resources are also referred to as
A
Goods and Services
B
Basic Economic Problem
C
Factors of Production
D
Unlimited
*select an answer for all questions
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