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Gillespie: Foundations of Economics

Unit 1

Instructions

Choose your answers from a-d by clicking the radio button next to each choice and then press 'Submit' to get your score.

Question 1

Resources in an economy:

Question 2

Human wants are:

Question 3

The sacrifice involved when you choose a particular course of action is called the:

Question 4

Which of the following is not one of the basic economic questions?

Question 5

The basic economic problems will not be solved by:

Question 6

The free market involves:

Question 7

A mixed economy:

Question 8

In a command (planned) economy:

Question 9

The public sector includes:

Question 10

Which of the following is a normative statement in economics?