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Economics
Test Description: What is economics?
Instructions: Answer all questions to get your test result.
1) What are goods?
A
Money
B
A service
C
Products; things you can see and touch
2) What are services?
A
A person
B
Things that other people do for you
C
A product
3) What is scarcity?
A
Too much of a good thing
B
When you want something you can get
C
When your want for something is greater than what is available to you
4) What is a tradeoff?
A
Giving up something for something else
B
Getting all you want
C
Trading baseball cards
5) Human resource is ...
A
a product
B
a service
C
labor
6) A natural resource
A
is found in nature
B
is labor
C
is man made
7) What is a psychological want?
A
Speaking to a therapist
B
Going to the doctor
C
Something someone wants that makes them happy
8) A man made resource is
A
Never available
B
A good that is made by humans
C
Human labor
9) What is a physical need?
A
Not necessary for survival
B
Something that is necessary for survival
C
Something you want
10) In order to live, your physical needs must be met?
A
Don't Know
B
True
C
False
*select an answer for all questions
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