1.1 Scarcity Economics
Quiz by Mark Stegall
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22 questions
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- Q1What resource would best fit the category of Laborwaterrock drillminersmall businesswoman30s
- Q2What resource would best fit the category of CAPITALminerRock Drillsmall businesswomanwater30s
- Q3Scarcity exists when there are ______ resources available to satisfy all the competing usesnotoo manyjust enoughnot enough30s
- Q4_______ is the study of how individuals and societies make choices under the condition of scarcityBusinessEconomicsCaptialScarcity30s
- Q5Economics explores ______ made by individuals, households, businesses, and governmentsconditionschoicesmoneytime30s
- Q6Which of the following is not one of the categories of economic resourcescapitallaborlandmoney30s
- Q7The scarcity of resources means that _______ are forced to make choicesindividuals, businesses and governmentsindividuals and businessesindividualsbusinesses30s
- Q8Economics assumes that human beings are self-interested and _______unfiarsmartrationalselfish30s
- Q9tools, equipment, machines and infrastructure are all considered ________ resources.laborcapitallandmoney30s
- Q10Economics is the study of the stock marketfalsetrueTrue or False30s
- Q11_____ is the study of the economy as a wholeMicroeconomicsMarketingEconomicsMacroeconomics30s
- Q12_______ is the study of how individuals, households and businesses make choices.EconomicsMacroecnomicsMarketingMicroeconomics30s
- Q13A circular graph in which each slice represents a percentage is called a _______time series graphpie chartbar graphscatter graph30s
- Q14A ______ illustrates how the value of a variable changes over time.time series graphpie chartbar graphscatter graph30s
- Q15The assumption that people are self-interested means people care only about moneyfalsetrueTrue or False30s