EPF: Economic Systems, Scarcity, and Opportunity Cost
Assessment
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Grace Cameron
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Social Studies
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KG
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358 plays
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Easy
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33 questions
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1.
MULTIPLE CHOICE
30 sec • 1 pt
__________ is the fundamental, universal, and perpetual economic problem that no one is immune to.
2.
MULTIPLE CHOICE
30 sec • 1 pt
Which description is most correct about opportunity cost (OC)
3.
MULTIPLE CHOICE
30 sec • 1 pt
Economics can be described as the study of
4.
MULTIPLE CHOICE
30 sec • 1 pt
The condition of scarcity can be described as one that
5.
MULTIPLE CHOICE
30 sec • 1 pt
The 4 Factors of Production (FOP) are
6.
MULTIPLE CHOICE
30 sec • 1 pt
The crops and animals on a farm are examples of which factor of production?
7.
MULTIPLE CHOICE
30 sec • 1 pt
Opportunity cost (OC) can be described as
8.
MULTIPLE CHOICE
30 sec • 1 pt
3 types of capital
9.
MULTIPLE CHOICE
30 sec • 1 pt
George earns a $250 bonus at his job for increasing his output by an additional 50% two weeks in a row. He makes a list of what he wants to buy with his bonus: 1: the latest model of Adidas athletic shoes; 2: Air Pods; 3: a new coat. He buys Adidas. What is his opportunity cost?
10.
MULTIPLE CHOICE
30 sec • 1 pt
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