GCSE Economics Unit 1 - How the Market Works (Part 1)

22 questions on the start of Unit 1 Economics.

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1. What is the basic Economic Problem?

  • Unlimited wants, limited resources
  • Distribution of luxuries and necessities
  • How to share resources equally
  • Distribution of basic necessities
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Other questions in this quiz

2. What is something that is essential for human survival?

  • recourse
  • capital
  • enterprise
  • need
  • want

3. What is something that you like but is not essential for human survival?

  • recourse
  • want
  • need
  • capital
  • enterprise

4. What is something used to produce output?

  • need
  • land
  • recourse
  • want
  • labour

5. What are the factors of production?

  • Capital, Enterprise, Need, Labour
  • Capital, Enterprise, Land, Labour
  • Capital, Enterprise, Land, Resources
  • Capital, Need, Resources, Labour
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puddleduck

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this is really good and relevant....thank you ***

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