Economics: Question Preview (ID: 3581)

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Soil is an example of a
a) natural resource
b) a want
c) human resource
d) capital resource

People working to produce goods or services
a) natural resource
b) opportunity cost
c) capital resource
d) human resource

People who use resources to make goods and/or provide services
a) economic interdependence
b) natural resource
c) producers
d) capital resource

Focusing on one product or service
a) economic specialization
b) economic interdependence
c) needs
d) wants

Food, air, shelter, and water
a) capital resources
b) economic choice
c) wants
d) needs

The people of Mali traded gold for salt with other people. This is an example of
a) interdependence
b) specialization
c) opportunity cost
d) economic choice

Virginia specializes in what?
a) road building and farming
b) salt and gold
c) shipbuilding and mining coal
d) making pottery

The next best choice that is given up when a decision is made
a) economic choice
b) economic interdependence
c) economic specialization
d) opportunity cost

The choice of or decision among alternatives or possibilities
a) economic choice
b) specialization
c) opportunity cost
d) interdependence

Virginia is known for shipbuilding. This is known as
a) natural resource
b) economic choice
c) opportunity cost
d) specialization

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