Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
Factors Of Production Economics
Test Description: Modules 5 8
Instructions: Answer all questions to get your test result.
1) Refers to man made goods, such as tools, which are used to produce other goods
A
Capital resources
B
Human capital
C
Resources
D
Physical capital
2) Individuals who are willing to take risks, to bring the resources together and develop new products, and start new businesses.
A
Resources
B
Services
C
Human resources
D
Entrepreneurs
3) All the things used in producing goods, services, buildings, ideas
A
GDP
B
Capital resources
C
Human resources
D
Natural Resources
4) Opportunity cost is
A
In what order should I produce
B
building skills that are scarce in the labor market.
C
How many should I produce
D
Is what you give up when you make a choice;
5) Are: 1) What should I produce? 2) How much should I produce? 3) Who will buy the goods or services?
A
3 economic questions
B
entrepreneurship
C
All answers
D
Labor
6) Which of the following is not an example of an increase in productivity?
A
Producing more output with more inputs
B
Producing the same output with fewer inputs
C
Market
D
Producing more output with the same inputs
7) Using markets as the primary means of organizing and coordinating production, is what type of system
A
Command
B
Traditional
C
Market
D
Mixed
8) What is the quantity of goods or services produced?
A
Productivity
B
Inputs
C
Standard of living
D
Output
9) What is the measure of economic performance that indicates how efficiently inputs are converted into output?
A
standard of living
B
Quota
C
Productivity
D
Subsidy
10) The condition of scarcity exists because
A
Demand
B
there aren't enough resources to produce everyone's wants.
C
Supply
D
resources are too expensive.
*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?