
Module 5 Study Guide
Authored by Daniel Billings
Geography
6th - 7th Grade
Used 6+ times

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36 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
System of producing, selling, and buying goods and services
Economy
Scarcity
Bartering
Trading
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Problem of having unlimited human wants in a world of limited resources
Economy
Scarcity
Bartering
Trading
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
For every choice you make, you give up something else.
Economy
Scarcity
Opportunity Cost
Trading
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The amount of a good or service that businesses are willing and able to produce.
Supply
Demand
Opportunity Cost
Profit
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The desire to have a good or service and the number of people who are ready to buy it at a certain price.
Supply
Demand
Opportunity Cost
Profit
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Money an individual or business has left after paying expenses
Supply
Demand
Opportunity Cost
Profit
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Basic economic resources needed to produce goods and services
Factors of Production
Contraction
Expansion
Economic Interdependence
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