Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
Making Economic Choices
Test Description: CE.11
Instructions: Answer all questions to get your test result.
1) Items used in making goods and services are called -
A
resources
B
choices
C
profits
D
costs
2) Natural, human, capitol, and entrepreneurship are all types of -
A
businesses
B
resources
C
incentives
D
production
3) The BASIC economic problem facing everyone is -
A
unfair laws
B
that there isn't enough
C
surplus
D
gas prices are increasing
4) The inability to satisfy all the wants at the same time is called -
A
resources
B
scarcity
C
demand
D
supply
5) Since there is not enough resources to satisfy all the wants at the same time, we have to -
A
petition the government to give it to us
B
change the economic system
C
steal what we want
D
make choices
6) Carmen had to choose between a DVD player and a new video game. She decided to buy the video game. What was the DVD player?
A
Her choice
B
Her scarcity
C
Her opportunity cost
D
Her need
7) Free financing, tax credits, and buy one, get on free are examples of -
A
incentives
B
scarcity
C
opportunity cost
D
monopolies
8) Price is determined by the interaction of -
A
money and consumers
B
goods and services
C
supply and demand
D
needs and wants
9) What determines who will acquire goods and services?
A
Scarcity
B
Supply
C
Demand
D
Price
10) Where do I look on a supply and demand graph to find the price?
A
The point where the lines intersect or meet
B
The lowest point for each line
C
The highest point for each line
11) The price of a product will increase if -
A
the demand is low and the supply is high
B
the demand is low and the supply is low
C
the demand is high and the supply is low
D
the demand is high and the supply is high
12) What determines what is PRODUCED or MADE?
A
Consumer preference and resources available
B
Supply and demand
C
Incentives and opportunity cost
D
Consumer preference and price
13) What is one factor that determines if a person will purchase and consume a product?
A
Resources
B
Price
C
Scarcity
D
Taxes
14) True/False: There is no such things as a free lunch means that everything has a cost.
A
False
B
True
*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?