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- 1. Multiple Choice
Which of these examples is a service?
Mr. Farr sells guitars.
Mr. Swenson gives art supplies to consumers.
Coach provides lessons for different sports.
Ms. Miller writes books.
- 2. Multiple Choice
Jenny has hundreds of stuffed animals to sell. The stuffed animals are considered the _________.
supply
demand
buyer
seller
- 3. Multiple Choice
What is profit?
the money you have left over after you paid your bills
how many people want your good/service
the amount of an item you have
none of these
- 4. Multiple Choice
Which of the following will increase your profit for selling hot chocolate?
Use expensive materials
Lower the price
Give each buyer more hot chocolate
Use cheaper materials
- 5. Multiple ChoiceEconomic system where government controls everything.MarketCommandMixedFree Enterprise
- 6. Multiple ChoiceType of Economy that is half command and half marketTraditionalCommandMarketMixed
- 7. Multiple ChoiceType of economic system where there is no government control.MixedMarketFree EnterpriseCommand
- 8. Multiple ChoiceI have a problem with having enough resources. What basic question of economics solves this?What to produce?How to produce?When to produce?For whom to produce?
- 9. Multiple ChoiceIf there are only 100 televisions on sale and 200 people want to buy TV's, that is a problem of ____.desiredemandsupplyscarcity
- 10. Multiple ChoiceEconomics seeks the answer to the basic question of how to deal with ______.moneyhungerdemandscarcity
- 11. Multiple Choice
Which of the following is the factors of prodution
Scarcity
Choice
Opportunity cost
Natural resources
- 12. Multiple Choice
What is given up when a choice is made
Scarcity
choice
opportunity cost
resources
- 13. Multiple Choice
Selecting an item or action
Scarcity
choice
opportunity cost
resources
- 14. Multiple Choice
Amount of money exchanged for a good or service
price
incentive
consumption
production
- 15. Multiple Choice
What is the total amount of a good or service available for purchase?
Producer
Consumer
Demand
Supply
- 16. Multiple Choice
What do you call someone who makes or provides a good or service for purchase?
Producer
Consumer
Demand
Supply
- 17. Multiple Choice
The combining of human, natural, capital, and entrepreneurship resources to make goods or provide services
consumption
production
distribution
resources
- 18. Multiple Choice
Oil, natural gas, and coal
human resources
natural resources
entrepreneurship
capital resources
- 19. Multiple Choice
Construction worker, doctor, nurse, and teacher
capital resources
entrepreneurship
human resources
natural resources
- 20. Multiple ChoiceSomeone that takes risks and opens his or her own business.BuyerCapital GoodConsumerEntrepreneur
- 21. Multiple Choice
Economics seeks the answer to the basic question of how to deal with ______.
money
hunger
demand
scarcity
- Answer choicesTagsAnswer choicesTags