Year 7 Economics Revision
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•39 Qs
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Year 7 Economics Revision
Quiz
•
Social Studies
•
7th Grade
•
Practice Problem
•
Medium
Hannah Richards
Used 293+ times
FREE Resource
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39 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Something we would like to have but can survive without
Want
Need
Producer good
Public good
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Something we must have in order to survive
Want
Need
Producer good
Consumer
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the Economic Problem?
There are unlimited resources to satisfy our limited needs and wants
It is very difficult to learn
There are too many producers and not enough consumers
There are limited resources to satisfy our unlimited needs and wants
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Another term for the Economic Problem
Finite
Scarcity
Economics
Production
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the 4 types of needs?
Food, water, clothing, shelter
Food, transport, water, housing
Exercise, clothing, transport, food
Shelter, food, clothing, transport
6.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
What are the different characteristics of wants?
(select all correct answers)
Recurrent
Complementary
Changeable
Unlimited
Competitive
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Wants change over time due to taste, fashion, technology, age, income, season, and so on.
This is the definition of...
Unlimited wants
Changeable wants
Competitive wants
Recurrent wants
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