Social Studies


Econ Final 21-22


40 questions

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  • 1. Multiple-choice
    20 seconds
    1 pt

    What is economics?

    gross domestic product on a per person basis; can be expressed in current or constant dollars

    technique used by the Federal Reserve to keep interest rates low and encourage banks to take on more loans to stimulate the economy

    people with all their abilities and efforts; one of the four factors of production; does not include the entrepreneur

    the social science that studies the production, distribution, and consumption of goods and services.

  • 2. Multiple-choice
    20 seconds
    1 pt

    What is a need?

    Something that is required to survive

    something we would like to have but is not necessary for survival

    something that improves quality of life

    something that decreases quality of life

  • 3. Multiple-choice
    20 seconds
    1 pt

    What is a service?

    tangible economic product that is useful, transferable to others, and used to satisfy wants and needs

    Something that somebody would like to have but not required

    Something needed for survival

    Action one person does for another

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