Economics 5th Grade

Economics 5th Grade

4th - 5th Grade

30 Qs

quiz-placeholder

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Economics 5th Grade

Economics 5th Grade

Assessment

Quiz

Other

4th - 5th Grade

Practice Problem

Medium

CCSS
RI.4.2, RF.3.3B, RI.5.2

+7

Standards-aligned

Used 53+ times

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30 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The law of supply and demand is very important in economics. Which of the following correctly describes supply and demand?

consumers will buy whatever is produced
producers will make what consumers demand
suppliers will make whatever they decide to
investors will put money into any business

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is given up when a choice is made is:

price incentive
rationing
specialization 
opportunity cost

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The cost a consumer pays to purchase a good or service from a producer

price
cost
incentive
income

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is not an example of a price incentive?

a sale on cereal
a new candy display
a "buy one, get one free" offer
a coupon offering one dollar off

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

____________ is a way to keep track of spending.

a savings account
a budget
an investment
a price incentive

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a person who starts and runs their own business

investor
producer
entrepreneur 
inventor

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

money earned through employment (job) and investments

incentive
taxation
income
costs

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