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Chapter 1 Econ Test Quiz Flashcards | StudBud

Explore/Chapter 1 Econ Test Quiz

Chapter 1 Econ Test Quiz

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Questions 10

Answers

1
Sunlight running a solar panel is an example of which of the 4 factors of production?
Capital Resources
Human Resources
Natural Resources
Entrepreneurship
2
Which factor of production includes Stewart & Jasper almond orchards?
Capital Resources
Natural Resources
Human Resources
Entrepreneurship
3
What are the 3 forms of exchange?
Money, Barter, and Exchange
Credit, Money, and Barter
Barter, Credit, and Productivity
Robbing, Mobbing and finally Sobbing
4
Which factor of production is Mr Absood when he is teaching?
Entrepreneurship
Human Resources
Capital Resources
Natural Resources
5
This is your favorite class, and I am your favorite teacher.
False
True
6
Which factor of production is Elon Musk or Michael Dell?
Natural Resources
Capital Resources
Human Resources
Entrepreneurship
7
What is Microeconomics?
They study of how to get rich and famous
The study of how individual actors make decisions
Generic wrong answer number three
The study of money
8
What are the 2 assumptions of a Production Possibilities Curve?
You miss 100% of the shots you do not take
Snappy Efficiency and Perfect Timing
Snapshot in Time and Perfect Efficiency
Perfect Snapshot and Instagram Fame
9
Technology is the use of technical knowledge to make new products or improve existing products
True
False
10
What are goods?
Not 'bads'
Items that are bought and sold
Vegetables and other healthy foods
Actions or activities performed for a fee