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PBMF Economic Concepts

Authored by Patricia Trubee

Business

7th Grade

Used 8+ times

PBMF Economic Concepts
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27 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 4 pts

The making, buying and selling of goods and services

economics

inflation

market

barter

2.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

Media Image

Inability to satisfy all wants at the same time

scarcity

opportunity cost

consumer sovereignty

demand

3.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

Media Image

Factors of production that are used in the production of goods and services

production

consumption

supply

resources

4.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

Media Image

The amount of a good or service that producers are willing and able to offer for sale

demand

price

supply

choice

5.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

Media Image

Construction worker, doctor, nurse, and teacher

capital resources

entrepreneurship

human resources

natural resources

6.

MULTIPLE CHOICE QUESTION

1 min • 4 pts

What is a need?

Nothing
Something you have to have to live
Something you would like to have
Ice cream

7.

MULTIPLE CHOICE QUESTION

1 min • 3 pts

What is a want?

A person
Something you would like to have but don't need to live
Purple
Something you need to live

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