Economic Basics

Economic Basics

9th - 12th Grade

25 Qs

quiz-placeholder

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Economic Basics

Economic Basics

Assessment

Quiz

History

9th - 12th Grade

Medium

CCSS
L.11-12.4C, L.6.4C, L.7.4C

+2

Standards-aligned

Created by

Wes Richins

Used 1+ times

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25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The situation in which unlimited wants exceed the limited resources available to fulfill those wants.

Market 
Tradeoff
Scarcity 
Equity 

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The highest-valued alternative that must be given up to engage in an activity.

Scarcity 
Factors of Production 
Innovation
Opportunity Cost 

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

________________ is the study of how people decide what they want and what they are willing to pay or give in order to get it.

Economics

Supply and Demand

Capitalism

Personal Finance

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Panic At The Disco is on tour! Tickets have almost sold out. Since supply of tickets is low, what will likely happen to the price?

Decrease

Increase

Remain the same

Tickets will stop selling

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Soil, minerals, air, water, and coal are all examples of

fossil fuels

conservation

recycling

natural resources

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

How do you satisfy your unlimited wants in a world of limited resources?

by making more money
by making choices
by stealing
by setting a budget

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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