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- 1. Multiple Choice
An economic choice is a decision about how to use resources. Businesses have to make a decision about which goods to produce and how much to make. This is a picture of a what?servicegoodhuman resourcecapital resource - 2. Multiple ChoiceBusinesses also have to make a decision about what kinds of services they wish to offer. Which is an example of a service?a cupcakea hair stylistpizzabook
- 3. Multiple ChoiceBusinesses help people in communities meet their wants which is something people would like to have. Some wants are needs. What is this an example of?wantneed
- 4. Multiple ChoiceSome natural resources are nonrenewable meaning that they can not be made again quickly by nature or by people. Some resources are renewable and can be made again by nature or people. What is this an example of?renewable resourcesnonrenewable resourcesgoodsservices
- 5. Multiple ChoiceCategorize this resource as being a nonrenewable resource of a renewable resource.renewable resourcenonrenewable
- 6. Multiple ChoiceCategorize this resource as being a nonrenewable resource of a renewable resource.renewable resourcenonrenewable resource
- 7. Multiple ChoiceCategorize this resource as being a nonrenewable resource of a renewable resource.nonrenewable resourcerenewable resource
- 8. Multiple ChoicePeoples and consumers do not always have enough resources to get everything they want. They must make a choice. Sometimes they must give up certain things to get other things. This kind of economic decision is called a trade-off. What people decide to give up in order to get something else is called the ___________.economic choiceopportunity cost
- 9. Multiple ChoiceA consumer might choose to spend his money on a pair of skates instead of going to the movie. In this case, which one is the opportunity cost?moviepair of skates
- 10. Multiple ChoiceA consumer might choose to spend his money on some popcorn at the movie and not a bag of M & Ms. Which one is the opportunity cost?M & Mspopcorn
- 11. Multiple ChoiceScarcity is when there is not enough of something for all of the people who what it. Only a certain amount of oil is found in the world. This amount is called the _________.demandsupply
- 12. Multiple ChoiceWhat do you think will happen to the demand of pumpkins in the fall?the demand will go downthe demand will go up
- 13. Multiple ChoiceClassify the picture as a certain industry.high-techagriculturemanufacturing
- 14. Multiple ChoiceClassify the picture as a certain industry.manufacturinghigh-techagriculture
- 15. Multiple ChoiceClassify the picture as a certain industry.agriculturehigh-techmanufacturing
- 16. Multiple ChoiceClassify the picture as a certain industry.manufacturingagriculturehigh-tech
- 17. Multiple ChoiceCanada buys computers and other goods made in the state. This makes the computers an _________.exportimport
- 18. Multiple ChoiceCanada sells lumber and paper to companies here in the states. This makes lumber and paper an ___________.importexport
- 19. Multiple ChoiceTo specialize is to do only one kind of work and do it well. What is this person's specialty?cutting down treeshuntingcatching fish
- 20. Multiple ChoiceThis picture if an example of a ________?wantneedservice
- Answer choicesTagsAnswer choicesTags