Community and Economy
Authored by S Ashe
History
3rd - 8th Grade
Used 6+ times
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8 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which best describes the circular flow of an economy?
the flow between businesses and resources
the exchange of money, goods, and services in an economy
happens only in a resource market
happens only in a goods and services market
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which is not true of public goods and services?
shared by everyone-sometimes at the same time
only given to the needy
no one is prevented from using them
are paid for by taxes
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which is not a basic economic question faced by an economy?
what to produce?
how much profit will be made?
how to produce?
for whom to produce?
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who pays for public goods and services?
philanthropists
taxpayers
only people who use them
government
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A free enterprise economy is a system in which economic decisions are made in markets by consumers and businesses.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Due to scarcity, people cannot have all of the things they want.
True
False
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Businesses produce goods and services for citizens, who in turn supply labor and other resources to the businesses.
True
False
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