Basic Economics
6 Questions
| Attempts: 153
Very easy quiz, designed for Year 10 Enrichment on the basics of Economics
Questions and Answers
- 1.
What is Econmics?
- A.
Economics is the study of how people use their limited resources in an attempt to satisfy unlimited wants.
- B.
Economics is the way in which goods and services are used
- C.
Economics is something really really boring
Correct Answer
A. Economics is the study of how people use their limited resources in an attempt to satisfy unlimited wants. -
- 2.
A need is something that you can not live without.
- A.
True
- B.
False
Correct Answer
A. True -
- 3.
A want is someting that you can live without but that makes life easier.
- A.
True
- B.
False
Correct Answer
A. True -
- 4.
A renewable resource is?
- A.
A resource that can be replaced
- B.
A resource that can not be replaced
- C.
A resource that can be replaced in this lifetime
- D.
A resource that doesn't change
Correct Answer
A. A resource that can be replaced -
- 5.
What is a Collective want?
- 6.
What is an Indovidual want?
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Current Version
-
Jan 17, 2013Quiz Edited by
ProProfs Editorial Team -
Aug 09, 2010Quiz Created by
Tahnz
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