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Economics Basics - Lawhead

Authored by Matthew Lawhead

Geography

6th - 8th Grade

CCSS covered

Used 81+ times

Economics Basics - Lawhead
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27 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amound of a good or service that is reaily available:

supply
demand

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount of a good or service that consumers are willing to purchase:

supply
demand

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

You are a __________ when you purchase a good or service.

carnivore
consumer
supplier
dealer

4.

MULTIPLE SELECT QUESTION

2 mins • 1 pt

Which questions are the three basic questions that all economic systems must answer?

What goods and services will be produced?

Do people have freedom of choice?

How much agriculture will be utilized?

How will goods and services be produced?

For whom will goods and services be produced?

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The ______ system exists when the government controls the factors of production.

Command
Free Market
Traditional

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

In the ________ economy, people will follow customs and habits from the past to resolve most economic issues of production and distribution.

Market

Command

Traditional

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The ________ economy allows businesses to pursue profit without government interference.

Market
Command
Traditional

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