
Introduction to Economics
Authored by Jani Randall
5th - 7th Grade
Used 7+ times

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15 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The cost of the next best use of time or money when chooshing to do one thing or another
trade-off
opportunity cost
economics
profit
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Materials used to make goods or services
economics
labor
products
resources
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
A person or business that provides goods and services
producer
consumer
entrepreneur
provider
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
goods a person must have to survive
capital
needs
wants
natural resources
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
desires that individuals and nations have that can be met by getting a good or a service
wants
scarcity
surplus
shortage
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
giving up one good or service for another
underselling
sacrifice
trade - off
market value
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
which one of these is NOT one of the three basic economic questions asked?
How will the good or service be produced?
Who will buy the good or service?
How high will prices go in a society?
What good or service will be produced?
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