Economics

Economics

7th Grade

19 Qs

quiz-placeholder

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James Samaha

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19 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The choices we make about how to use limited resources to produce goods & services to meet unlimited wants & needs

Entrepreneurship

Economics

Factors of production

Scarcity

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a limited supply of something

loss

profit

scarcity

opportunity cost

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount of something available for use

Supply

demand

Scarcity

profit

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Any kind of work performed for others.

Scarcity

profit

Demand

service

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Natural resources, capital goods, and human capital are considered...

Scarcity

Command economies

Market economies

Factors of production

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The way a society organizes the production, distribution, and consumption of goods & services determines its...

Supply & demand

Economic system

Entrepreneurship

Capital goods

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economic systems are based on customs and beliefs

Mixed Economy

Traditional Economy

Command Economy

Market Economy

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