The Economy and You

The Economy and You

9th - 12th Grade

10 Qs

quiz-placeholder

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The Economy and You

The Economy and You

Assessment

Quiz

Business

9th - 12th Grade

Medium

Created by

AVT Thornton

Used 15+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The difference between wants and needs is the fact that needs are necessary for survival and wants are not necessary to survive.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Resources limit the number of wants people and businesses can satisfy because few people have enough resources to satisfy all of their needs and wants. It is best to satisfy needs first and then wants.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The decision making process helps you to consider your options and their consequences. It helps you to make the best use of your resources.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Tangible products you can purchase to meet your wants and needs are called services.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When you decide to buy a pair of shoes instead of a concert ticket, you are making a trade-off.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Products and money used in the production of goods and services are called natural resources.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Competition is a contest between businesses to win customers.

True

False

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