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