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    Week 4 WEEK 1-2 APPLIED eCONOMICS qUIZ

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    Aloha Rodriguez Dael
    The document is a test on applied economics concepts. It contains 5 multiple choice questions that assess understanding of economic resources, their classification, the basic economic questions, natural resources, and what the basic economic questions address. The questions cover topics like the factors of production, the fundamental types of economic resources, and distinguishing natural from man-made resources.

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    Week 4 WEEK 1-2 APPLIED eCONOMICS qUIZ

    Uploaded by

    Aloha Rodriguez Dael
    63 views4 pages
    The document is a test on applied economics concepts. It contains 5 multiple choice questions that assess understanding of economic resources, their classification, the basic economic questions, natural resources, and what the basic economic questions address. The questions cover topics like the factors of production, the fundamental types of economic resources, and distinguishing natural from man-made resources.

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    TEST QUESTIONS

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    week 4 WEEK 1-2 APPLIED eCONOMICS qUIZ

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    The document is a test on applied economics concepts. It contains 5 multiple choice questions that assess understanding of economic resources, their classification, the basic economic questions, natural resources, and what the basic economic questions address. The questions cover topics like the factors of production, the fundamental types of economic resources, and distinguishing natural from man-made resources.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    63 views4 pages

    Week 4 WEEK 1-2 APPLIED eCONOMICS qUIZ

    Uploaded by

    Aloha Rodriguez Dael
    The document is a test on applied economics concepts. It contains 5 multiple choice questions that assess understanding of economic resources, their classification, the basic economic questions, natural resources, and what the basic economic questions address. The questions cover topics like the factors of production, the fundamental types of economic resources, and distinguishing natural from man-made resources.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 4

    APPLIED ECONOMICS

    Name:______________________________ Grade Level/Section:________________


    Test I. Directions: Choose the letter of the best answer. Write the letter of your answer on a
    separate sheet of paper.
    1. Which of the following statements is NOT TRUE?
    a. The economic resources are used to produce goods and services.
    b. Economic resources are land, labor, capital, and entrepreneurship.
    c. Economic resources are naturally unlimited.
    d. Economic resources are the factors of production.

    2. Which of the following is NOT a fundamental classification of economic resources?


    a. Land b. Money c. Labor d. None of the above

    3. Which of the following belongs to the basic economic questions?


    a. What to produce?; For whom to produce?; and Where to produce?
    b. What to produce?; For whom to produce?; and How to produce?
    c. What to produce?; For whom to produce?; and When to produce?
    d. None of the above

    4. Which of the following refers to natural resources?


    a. Land, minerals, water, and air b. Man-made materials
    c. Calamities and disasters d. None of the above

    5. Which of the following will not address by the basic economic questions?
    a. Scarcity b. Traffic in Metro Manila c. Economic problem d. None of the above
    ANSWER KEY:

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