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Economy

Authored by Jenni Linde

Social Studies

4th - 5th Grade

25 Questions

Used 437+ times

Economy
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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A system where people can own their own business of their choice is called _____________.

Planned System

Options System

Market Economy or Free Enterprise

Taxes

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When the demand for a product is higher, the price ________________.

increases
decreases
stays the same
automatically doubles

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A person who makes a product in the product market is called ___________________. 

Consumer
Clerk
Worker
Producer

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A person who purchases a product is called a ________________________. 

Producer
Consumer
Client
Banker

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Someone or a company that loans a potential company money to start their own business is called an _____________________. 

Supplier 
Producer
Consumer
Investor 

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The money left over after a business pays for its costs is called a ________________. 

Producers
Consumer
Entrepreneur 
Profit

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

There is a _________________ for a product when consumers want to buy it. 

Demand
Supply
Request
Opportunity Cost

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