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