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Economics Review for Unit 1 - Quiz #1

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Review of Fundamentals of Economics

AugustHubert
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Created Date 08.10.21
Last Updated 08.13.21
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Topics of this game:
  • Desires that can be satisfied by consuming a good or service?
  • The study of scarcity and choice.
  • What are the three factors of production?
  • A sales clerk represents which factor of production?
  • Which of the following is NOT an example of an increase in productivity?
  • Which of the following examples is a way for a business to INCREASE their level of productivity?
  • Which of the following examples would cause a business to have a DECREASE in their productivity?
  • What is the business cycle?
  • Which of the following is a LAND resource shown in the $1500 Chicken Sandwich video?
  • What does a PPC graph show?
  • What three things does a PPC graph represent?
  • If the PPF shifts to the right, is this a growth or a cost?
  • What is the name of this principle, "principle that people may decide what, when, and how they want to buy and sell"?
  • What term can be defined by the following statement, "division of labor"?
  • Which of the following is FINITE?