What are the Four Factors of Production.

Land, Capitol, Labor, Entrepreneurs.

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Grade 9 Humanities: Economics

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Questions 13

Answers

1
Market based Economic system with limited Government Involvement is called a Mixed Economy.
False
Neither
True
I don't Know
2
Supply and Demand is the Basic Concept of...
Mixed Economy
Communism
Socialist Economy
Market Economy
3
Charlie and Yujin are Cool.
Who is Charlie and Yujin?
Definitely not
Yes
Yes
4
Trump is Stupid.
Yes
No, Absolutely Insane
No, he is beyond stupid
No (Only Robbie can choose this one)
5
Who gains in a voluntary sale?
The seller only
both the buyer and the seller
The buyer only
both the buyer and seller but the seller usually makes more
6
Define Economics.
The knowledge of Production, Use and Transfer of Wealth
Individual Rights
The wealth and Resources of a Country or Region
The Theory of Supply and Demand
7
Riddle: When I am 6, my Brother is Half my age. I am Now 35, How Old is He?
35
21
32
17.5
8
What are the Three Basic Economic Questions.
How, Whom, When.
What, Where, Whom.
What, How, Whom.
What, Why, Whom.
9
Define Human Capitol
A Homosapien led Government.
A Worker Who has Gained Skills by Experience and Education.
Taxes Collected by a Government
Gain in Wealth by a Homosapien
10
Middlemen...
Increases the Cost of Goods and Services Without any Benefit
Impede Trade and Hinder Economic Growth
Reduce Transaction Costs
Increases Transaction Costs
11
When a Country is considered to be in an economic rise...
Supply is Low and Demand is High
Supply is High and Demand is Low
Supply is Low and Demand is Low
Supply and Demand are Equal
12
Goods and Services that are Purchased from other Countries are...
Inputs
Imports
Goods
Exports
13
What are the Four Factors of Production.
Land, Capitol, Labor, Entrepreneurs.
Land, Capitol, Money, Entrepreneurs.
Labor, Capitol, Supply, Demand
Capitol, Money, Supply, Demand.

Grade 9 Humanities: Economics Flashcards | StudBud