Basic Economic Ideas

Basic Economic Ideas

9th - 10th Grade

9 Qs

quiz-placeholder

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Basic Economic Ideas

Basic Economic Ideas

Assessment

Quiz

History

9th - 10th Grade

Medium

Created by

Michael Daly

Used 22+ times

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9 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Super Bowl tickets to the Chiefs - 49ers game are selling for over $3,800. This is because of

the law of supply and demand

Say's Law

speculation

credit

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Often times, tickets to sporting events like the Super Bowl are very expensive. The price of these tickets change at kickoff and often go down. Why?

The supply went up.

The demand for the ticket went down.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When you picked stocks in the Stock Market game in class, you were ________________________ that the stock's price would rise.

crediting

speculating

demanding

supplying

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The stock market is

a place where people buy and trade pieces of companies

a place where people demand for prices to change

a place where people can get access to credit

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What two words are the most similar?

credit & installment buying

stock market and Say's Law

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When people got access to credit in the 1920's, what did they do?

Nothing

Bought consumer goods like radios and refrigerators

Saved it

gave it to their children

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

_______________ says that when a company has too many products (a surplus), they should lower prices.

Say's Law

The stock market

Speculation

Consumerism

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