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30. Economic Terms
Test Description: SocialStudiesGames.net
Instructions: Answer all questions to get your test result.
1) the study of choices involving goods and services
A
democracy
B
communism
C
economics
D
capitalism
2) Which of the following is the least likely to studied by an economist?
A
Consumption
B
Declaration of Independence
C
Distribution
D
Production
3) making things
A
distribution
B
communism
C
production
D
consumption
4) getting things to people
A
distribution
B
consumption
C
communism
D
production
5) buying or using good and services
A
distribution
B
consumption
C
production
D
procrastination
6) Inability to satisfy all wants at the same times; resources and goods are limited
A
Production
B
Human Capital
C
Scarcity
D
Consumption
7) The dismal science
A
History
B
Economics
C
Mathematics
D
Biology
8) Which is not one of the most common variables when making a choice?
A
Price
B
Opinion of others
C
Quality
D
Desire
9) Factors of production in producing goods and services
A
price
B
choice
C
scracity
D
resources
10) Which of the following is not a resource
A
Future
B
Capital
C
Natural
D
Human
11) Which pair is incorrect?
A
human resource = laborers
B
human resource = money
C
natural resource = tree
D
capital resource = fork lift
12) That which is given up a choice is made?
A
Opportunity Cost
B
production
C
Scarcity
D
economics
13) Which is not an example of opportunity cost?
A
spending your time playing instead of studying
B
skipping lunch and saving your lunch money to buy shoes
C
buying cheaper phone instead of an iPhone
D
receiving a free lunch
14) things the incite or motive a consumer's economic behavior or to change economic behavior
A
opportunity cost
B
incentive
C
scracity
D
choice
15) consumers determined what products will be produced for sale
A
opportunity cose
B
consumer sovereignty
C
capital resources
D
scarcity
*select an answer for all questions
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