Economics

Economics

8th Grade

20 Qs

quiz-placeholder

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Economics

Economics

Assessment

Quiz

History

8th Grade

Medium

Created by

Eric Ames

Used 9+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

John goes to a shoe store to buy a new pair of sneakers, but the store has run out of the kind he likes. This is an example of

Scarcity

Supply and Demand

Traditional Economy

Opportunity Cost

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Sarah decides to buy a car. She chooses to buy a used car because she thinks the lower price is worth the value of the car she is getting. This is an example of

Opportunity cost

Resources

Diminish marginal returns

Mixed economy

3.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Select each of the kinds of resources

Human

Capital

Natural

Entrepreneurship

National

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

James does the same job that his parents did before him, and their grandparents before them. This is an example of

traditional economy

mixed economy

command economy

market economy

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which economic system has minimal government involvement?

Traditional

Free market

command

mixed

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which economy system has very little consumer choice?

Free market

command

mixed

traditional

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Consumer sovereignty means

Everything is a choice

Consumers decide what producers make

There is no consumer choice

The government decides what producers make

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