ECONOMICS LEP 2
Presentation
•
Business, Social Studies
•
12th Grade
•
Practice Problem
•
Hard
Marisa Jacobs
Used 1+ times
FREE Resource
2 Slides • 11 Questions
1
Multiple Choice
Which definition matches income?
Money that you collect
money that is earned as a result of working
The amount of money made before deductions are taken out
The amount of money made after deductions are taken out
2
Multiple Choice
Which definition matches gross income?
The amount of money made after deductions are taken out
Money that you collect
The amount of money made before deductions are taken out
money that is earned as a result of work
3
4
5
Multiple Choice
Obtaining something you want with the understanding you'll pay for it later.
Credit
Debit
6
Multiple Choice
What are the resources called that are needed to produce a good or service?
Goods and services.
Needs and wants.
Factors of production.
All of the above.
7
Multiple Choice
_________ is the study of how individuals and businesses decide how to allocate scarce resources.
Entrepreneurs
Government
Opportunity Costs
Economics
8
Multiple Choice
What is the most scare resource?
time
water
air
people
9
Multiple Choice
The internet, computers, factories, and Technology are all...
Capital Goods
Human Capital
Natural Resources
Entrepreneurship
10
Drag and Drop
11
Multiple Choice
Explain whether the following is labor, capital, land, or enterprise:
A factory worker
Land
Labor
Capital
Enterprise
12
Multiple Choice
Explain whether the following is labor, capital, or a land, or enterprise:
A college professor
Land
Labor
Capital
Enterprise
13
Multiple Choice
The factor of production known as land represents
human capital
natural resources/ raw materials - the parts and pieces that go into the final product
office buildings
business experience
Which definition matches income?
Money that you collect
money that is earned as a result of working
The amount of money made before deductions are taken out
The amount of money made after deductions are taken out
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MULTIPLE CHOICE
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