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30. Economic Terms
Test Description: SocialStudiesGames.net
Instructions: Answer all questions to get your test result.
1) the study of choices involving goods and services
A
capitalism
B
communism
C
democracy
D
economics
2) Which of the following is the least likely to studied by an economist?
A
Consumption
B
Distribution
C
Production
D
Declaration of Independence
3) making things
A
communism
B
distribution
C
production
D
consumption
4) getting things to people
A
production
B
distribution
C
consumption
D
communism
5) buying or using good and services
A
distribution
B
consumption
C
production
D
procrastination
6) Inability to satisfy all wants at the same times; resources and goods are limited
A
Scarcity
B
Human Capital
C
Consumption
D
Production
7) The dismal science
A
Mathematics
B
History
C
Economics
D
Biology
8) Which is not one of the most common variables when making a choice?
A
Desire
B
Opinion of others
C
Price
D
Quality
9) Factors of production in producing goods and services
A
choice
B
price
C
resources
D
scracity
10) Which of the following is not a resource
A
Future
B
Capital
C
Human
D
Natural
11) Which pair is incorrect?
A
human resource = money
B
human resource = laborers
C
natural resource = tree
D
capital resource = fork lift
12) That which is given up a choice is made?
A
economics
B
Scarcity
C
Opportunity Cost
D
production
13) Which is not an example of opportunity cost?
A
receiving a free lunch
B
skipping lunch and saving your lunch money to buy shoes
C
buying cheaper phone instead of an iPhone
D
spending your time playing instead of studying
14) things the incite or motive a consumer's economic behavior or to change economic behavior
A
scracity
B
incentive
C
choice
D
opportunity cost
15) consumers determined what products will be produced for sale
A
scarcity
B
opportunity cose
C
capital resources
D
consumer sovereignty
*select an answer for all questions
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