
Economics
Authored by Eric Ames
History
8th Grade
Used 9+ times

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20 questions
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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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