Economics

Economics

7th Grade

•

35 Qs

quiz-placeholder

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Economics

Economics

Assessment

Quiz

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History

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7th Grade

•

Medium

Created by

Curtis Martin

Used 43+ times

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35 questions

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1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The study of the production, distribution, and consumption of goods and services. (circulation of money)

Economics

Gross Domestic Product

Public Policy

Scarcity

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What is the basic economic problem?

Scarcity

Wants

Needs

Resources

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Wants are always....

Unlimited

Limited

Both

None of the above

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Resources are always....

Unlimited

Limited

Both

None of the above

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

How does scarcity affect our economic choices?

It allows the consumer to buy anything they want.

It teaches us to spend our money wisely.

It forces us to spend all of our money.

All of the above

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

A person who starts and runs a business is called an....

Entrepreneur

Economists

Elector

Employee

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The main goal in any business is to...

Make a profit

Break even

To create a surplus of products and services in the economy.

To create a shortage of products and services in the economy.

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