Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
Unit #9: Economic Decisions (Part 1)
Test Description: CE.11
Instructions: Answer all questions to get your test result.
1) The items that are used in making goods and services are called -
A
price
B
resources
C
articles
D
incentives
2) Natural, human, capital, and entrepreneurship are types of -
A
resources
B
economic systems
C
incentives
D
businesses
3) The BASIC economic problem facing everyone is -
A
gas prices are increasing
B
unfair laws
C
that there isn't enough
D
surplus
4) Since there are not enough resources to satisfy all the wants at the same time, we have to -
A
change the economic system
B
steal what we want
C
make choices
D
petition the government
5) The inability to satisfy all the wants at the same time is known as -
A
choice
B
scarcity
C
price
D
incentives
6) Carlos could have bought a computer games or go see to movies. Since he didn't have enough money to do both, he decided to go to the movies. What is his opportunity cost?
A
Value of the computer game
B
Price of the movie tickets
C
Time of buying the computer game
D
Enjoymnet of seeing the movies
7) Buy One, Get 50% Off is an example of an -
A
consumption
B
resource
C
incentive
D
capital
8) The amount of money exchanged for a good or service is called -
A
demand
B
supply
C
price
D
opportunity cost
9) What determines who will acquire a good or service?
A
Resources
B
Price
C
Choice
D
Scarcity
10) True/False: To determine the price on a supply and demand graph, all you have to do is see where the supply and demand lines meet.
A
False
B
True
11) If you want to get rid of a product and prevent a total loss, you should -
A
decrease the price
B
pull the product off the shelves
C
keep the price the same
D
increase the price
12) The price of a product will increase if -
A
the demand is low and the supply is low
B
the demand is high and the supply is low
C
the demand is high and the supply is high
D
the demand is low and the supply is high
13) What determines what should be PRODUCED or MADE?
A
Consumer preference
B
Resources
C
Resources available and consumer preference
D
Price
14) What is one factor that determines if a person will purchase and consume a product?
A
Taxes
B
Resouces
C
Scarcity
D
Price
*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?