
Economics Unit 1 Review
Authored by Robert Montgomery
7th - 12th Grade
CCSS covered
Used 12+ times

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23 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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
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
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
Which of the following is a need?
Ice cream
Houses
Basketballs
Candy!!! (I want candy)
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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
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
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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