Chapter 1 Review (from notes) Part I
Authored by C.J. Schmidt
Financial Education
12th Grade
Used 1+ times
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25 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is considered a "need"?
Smartphone
Shelter
Designer clothing
Vacation
Video game console
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of a service?
A refrigerator
A haircut
A smartphone
A book
A bicycle
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is "human capital"?
Natural resources used in production
The physical tools and equipment used in production
The knowledge and skills a worker gains through education and experience
Money used to invest in businesses
The number of workers available in an economy
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a factor of production?
Land
Labor
Capital
Technology
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of physical capital?
A college education
A factory building
Natural gas
A workforce
Government bonds
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is considered a natural resource?
A factory machine
Timber used in construction
A smartphone
A trained workforce
A college degree
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which factor of production is most directly associated with 'human resources'?
Land
Labor
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