Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
Introduction To Economics Concept Review #1
Test Description: Introduction to Economics Concept Review #1
Instructions: Answer all questions to get your test result.
1) Which of the following illustrates an economic response to the problem of scarcity?
A
Drinking milk so you can have stronger bones.
B
Studying for a test.
C
Practicing your golf swing.
D
Making sure that everyone at your birthday party has at least one piece of cake.
2) Economics is the study of how people manage _________________.
A
their money only
B
relationships with other people
C
their emotions
D
available resources
3) When you go to the barber to get a haircut, you are consuming ________________.
A
BOTH a good AND a service
B
NEITHER a good NOR aservice.
C
a service
D
a good
4) When you and your family go out to eat in a restaurant, you are consuming __________________.
A
a service
B
NEITHER a good NOR a service.
C
BOTH a good AND a service
D
a good
5) Which of the following would be an example of a consumer?
A
A boy that buys a video game.
B
A child that sets up a lemonade stand in her neighborhood.
C
A woman that works at a bakery.
D
A kid at baseball practice.
6) A karate instructor that teaches self defense to people in his backyard for a small fee, would be considered ________________.
A
a consumer
B
a producer
C
None of These
D
physical capital
7) Which of the following would be considered a NATURAL resource.
A
a computer
B
a great business idea
C
wood
D
the knowledge and skill of a dentist
8) The skills and talent of a professional basketball player would be considered which of the following factors of production?
A
Human Capital
B
Consumption
C
Natural Resource
D
Physical Capital
9) What sort of physical capital would a carpenter need to build a house?
A
a hammer
B
the ability to use a hammer
C
None of These
D
wood
10) The conflict between unlimited desire or demand and a limited amount of resources.
A
Cosumption
B
Scarcity
C
Production
D
Economics
*select an answer for all questions
Check Results & Get Answers
Play Games with the Questions Above
Teachers: Create FREE classroom games with your questions
Click for more info!
©2007-2024
ReviewGameZone.com
|
About
|
Privacy
|
Contact
|
Terms
|
Site Map
WAIT! Find what you needed?
×
Still Looking for the Answers?
Have Another Question?
Play a Review Game with These Questions?
Want to Make Your Own Test Like This One?