Introduction To Economics Concept Review #1 Question Preview (ID: 31714)
Introduction To Economics Concept Review #1.
TEACHERS: click here for quick copy question ID numbers.
Which of the following illustrates an economic response to the problem of scarcity?
a) Practicing your golf swing.
b) Making sure that everyone at your birthday party has at least one piece of cake.
c) Studying for a test.
d) Drinking milk so you can have stronger bones.
Economics is the study of how people manage _________________.
a) their money only
b) their emotions
c) relationships with other people
d) available resources
When you go to the barber to get a haircut, you are consuming ________________.
a) a good
b) a service
c) BOTH a good AND a service
d) NEITHER a good NOR aservice.
When you and your family go out to eat in a restaurant, you are consuming __________________.
a) a good
b) a service
c) BOTH a good AND a service
d) NEITHER a good NOR a service.
Which of the following would be an example of a consumer?
a) A child that sets up a lemonade stand in her neighborhood.
b) A boy that buys a video game.
c) A woman that works at a bakery.
d) A kid at baseball practice.
A karate instructor that teaches self defense to people in his backyard for a small fee, would be considered ________________.
a) a consumer
b) physical capital
c) a producer
d) None of These
Which of the following would be considered a NATURAL resource.
a) wood
b) a computer
c) the knowledge and skill of a dentist
d) a great business idea
The skills and talent of a professional basketball player would be considered which of the following factors of production?
a) Consumption
b) Human Capital
c) Natural Resource
d) Physical Capital
What sort of physical capital would a carpenter need to build a house?
a) wood
b) a hammer
c) the ability to use a hammer
d) None of These
The conflict between unlimited desire or demand and a limited amount of resources.
a) Economics
b) Cosumption
c) Scarcity
d) Production
Play Games with the Questions above at ReviewGameZone.com
To play games using the questions from above, visit ReviewGameZone.com and enter game ID number: 31714 in the upper right hand corner or click here.
To play games using the questions from above, visit ReviewGameZone.com and enter game ID number: 31714 in the upper right hand corner or click here.
TEACHERS / EDUCATORS
Log In | Sign Up / Register
Log In | Sign Up / Register