Economics Unit 1 Review

Economics Unit 1 Review

7th - 12th Grade

23 Qs

quiz-placeholder

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Economics Unit 1 Review

Economics Unit 1 Review

Assessment

Quiz

7th - 12th Grade

Medium

CCSS
RI.8.2, RL.11-12.2, RL.7.1

+2

Standards-aligned

Created by

Robert Montgomery

Used 12+ times

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23 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Economics is the study of how people seek to satisfy their needs and wants by making choices.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Individuals who come up with a new idea for a good or service, then they make it a reality

resource

human resources

consumer

entrepreneur

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The idea that resources are limited; we don't have an unlimited supply of what we want

scarcity

supply

demand

inflation

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which of the following is a need?

Ice cream

Houses

Basketballs

Candy!!! (I want candy)

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Economics is...

studying goods, services, and how people can get them.

studying trees, bushes, and other plants.

studying animals and wildlife.

studying food, and how food is made.

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

The study of economics is primarily concerned with:

demonstrating that capitalistic economies are superior to socialistic economies.

determining the most equitable distribution of society's output.

keeping private businesses from losing money.

choices/decisions that are made due to lack of resources

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Please complete the following sentence: ____ are people whose efforts and skills go into the production of goods and services.

Labor

Markets

Economics

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