Which answer describes the fact that human wants are unlimited and resources are scarce?
Economics - Foundations Review
9th - 12th Grade
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Economics - Foundations Review
Quiz
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Social Studies
•
9th - 12th Grade
•
Hard
Ian Striz
Used 77+ times
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13 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Economic Growth
Economic freedom
What, How, and For Whom?
The fundamdental economic problem
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a free-enterprise system (capitalism) which of the following decides What will be produced?
Consumers
Entrepreneurs
Government
Price
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a command which of the following decides What will be produced?
Consumers
Entrepreneurs
Government
Price
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a free-enterprise system (capitalism) which of the following decides How goods and services will be produced?
Consumers
Entrepreneurs
Government
Price
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a command which of the following decides How goods and services will be produced?
Consumers
Entrepreneurs
Government
Price
6.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
The production possibilities curve (frontier) helps us to identify which of the following? Select all that apply.
Total productive capacity (Full employment)
Opportunity cost
Price
What, How, and For Whom
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a characteristic of a free-enterprise system (capitalism)?
Economic Freedom
Voluntary Exchange
Economic Security
Private Property Rights
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