This website uses cookies to ensure you get the best experience on our website. Privacy Policy OK

Economics Final Review

| See more in Economics

Interactive review game for Economics Chapter 1

Created Date 12.03.19
Last Updated 12.03.19
Viewed 32 Times
Your browser doesn't support HTML5. System.Collections.Generic.List`1[System.String] System.Collections.Generic.List`1[System.String]
submit to reddit

Would you like to build your own game?

It's easy!

Go to the GameBuilder and get started!

Topics of this game:
  • In the state of Pennsylvania, the sales tax is
  • Who do Social Security taxes pay benefits for?
  • Resources that are made by people, used to create other goods and services are called
  • The resources used to make all goods and services are the
  • Why are all of the goods and services scarce?
  • If a person wants to buy a CD but only has enough money for one and buys CD A instead of CD B, then CD b is the
  • Running a service that hires people to install sprinkler systems in lawns is an example of what.
  • What is the struggle among various producers for the consumer's business called?
  • Which of the following is NOT a key economic question?
  • What is one of the most important advantages of a free market?
  • Which of the following is a characteristic of a traditional economy?
  • In which type of economy does the government make all the decisions?
  • What is the function of an economic system?
  • Who was the leader that introduced communism and central planning to the former Soviet Union?
  • What factor of production is a SCHOOL under?
  • What factor of production is PAPER under?
  • What factor of production is LAKE ERIE under?
  • What factor of production is FISH under?
  • What factor of production are TEACHERS under?
  • What factor of production is STEVE JOBS under?
  • What factor of production is a COFFEE CUP under?
  • What factor of production is COMPUTERS under?
  • What factor of production is BILL GATES under?
  • What factor of production is MECHANIC under?
  • A situation in which people do not have enough resources to supply every desire.
  • Land, Labor, Capital, & Entrepreneurship are part of what?
  • Previously manufactured goods used to make other goods/services.
  • Something basic for your survival such as food, water, shelter, and clothing.
  • What do sellers do if they expect the price of good they have for sale to increase dramatically in the near future?
  • When buyers will purchase exactly as much as sellers are willing to sell, what is the condition that has been reached?
  • What happens when the supply f a nonperishable good is greater than the consumer wants to buy?
  • Which of the following is an example of a good whose price has gone down because of improvements in technology?
  • What is a mortgage used to purchase?
  • What happens when you make a purchase using a credit card?
  • When choosing an insurance agent, should you consider the agents knowledge of insurances?
  • Is a DOG a want or need?
  • Is FOOD a want or need?
  • Is CLOTHING a want or need?
  • Is NIKE AIR JORDANS a want or need?
  • Is a CAR a want or need?
  • Is SHELTER a want or need?
  • Is a TEXAS ROADHOUSE STEAK a want or need?
  • What is the supply for money, goods/services in exchange for a promise to pay in the future?
  • What are legal documents showing who owns a car or other property?
  • What is the agreement between you and the insurance company?
  • What is money borrowed for a home?
  • What is the measure of a person's ability and willingness to pay debts?
  • What is it called when someone is forced to give up their house because of lack of payment?
  • What is the amount you are allowed to spend with a credit card?
  • What is the amount of tax that must be paid?
  • Gross Income is
  • The income on which tax is computed is
  • This is based on the taxpayer's marital status and other factors, it determined the tax bracket and rate at which income is taxed.
  • This tells the taxpayer how much income they earned during the course of the year, as well as how much tax was withheld.
  • What are taxes on all retail products, based on a set percentage of retail costs?
  • This helps an employer determine how much to withhold from an employee's paycheck.
  • This is a dividsion of the Department of Treasury that is responsible for interpreting and applying federal tax laws.
  • What is it called when the IRS investigates past returns for correctness or fraud?
  • What is the deadline for taxes to be submitted?
  • What is the deadline for employers to send their employees their W-2 forms?