Economics Unit 1 Post Test with
Solutions
Which statement is true?
-Inexhaustible resources are limited.
-Only tangible goods are scarce.
-Exhaustible resources are abundantly available.
-Exhaustible resources are scarce.
-Governments have unlimited money. - ANS ✔Exhaustible resources are scarce.
Which statement is true?
-Savings are a leakage in the circular flow of income.
-Households pay wages to businesses.
-Exports are leakages in the circular flow of income.
-Taxes paid to the government have no direct effect on the economy. - ANS
✔Savings are a leakage in the circular flow of income.
Solutions
Which statement is true?
-Inexhaustible resources are limited.
-Only tangible goods are scarce.
-Exhaustible resources are abundantly available.
-Exhaustible resources are scarce.
-Governments have unlimited money. - ANS ✔Exhaustible resources are scarce.
Which statement is true?
-Savings are a leakage in the circular flow of income.
-Households pay wages to businesses.
-Exports are leakages in the circular flow of income.
-Taxes paid to the government have no direct effect on the economy. - ANS
✔Savings are a leakage in the circular flow of income.
