Sectors of the US Economy

Sectors of the US Economy

5th Grade

9 Qs

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Sectors of the US Economy

Sectors of the US Economy

Assessment

Quiz

Social Studies

5th Grade

Practice Problem

Hard

Created by

Virginia Lak

Used 148+ times

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9 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do businesses provide?

goods and services

labor

spending and saving

labor

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is supply?

the total amount of a product that producers are willing to make and sell

the amount of product that consumers are willing and able to buy

money left over after all costs of production are paid

two companies fighting for consumers

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is demand?

the total amount of a product that producers are willing to make and sell

the amount of product that consumers are willing and able to buy

money left over after all costs of production are paid

two companies fighting for consumers

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is profit?

the total amount of a product that producers are willing to make and sell

the amount of product that consumers are willing and able to buy

money left over after all costs of production are paid

two companies fighting for consumers

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is competition?

the total amount of a product that producers are willing to make and sell

the amount of product that consumers are willing and able to buy

money left over after all costs of production are paid

two companies fighting for consumers

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is income?

bills that you have to pay

the money you spend as a consumer

when you donate to charity

the money you earn for your labor

7.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

What are expenses?

bills that you have to pay

the money you spend as a consumer

when you donate to charity

the money you earn for your labor

8.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does it mean to volunteer?

to help out and not earn an income

to earn an income

to work for a wage

9.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

What is capital?

money

income

taxes

bills