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Chapter 5 Economics

Authored by Nicola Perez-Garreaud

Geography

6th Grade

Used 16+ times

Chapter 5 Economics
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The study of how people meet their wants and needs.

scarcity

economics

supply

demand

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Having a limited quantity of resources to meet unlimited wants.

scarcity

economics

supply

demand

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Making choices involves?

incentives

supply

demand

opportunity cost

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

People or businesses that make and sell products.

consumer

producer

market price

market

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An organized way for producers and consumers to trade goods and services.

competition

economic trade

specialization

maket

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Market price is determined by?

competition

inflation

supply and demand

consumer and producer

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A decline in economic growth for six or more months in a row is known as?

deficit

inflation

recession

lost capital

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