CE.11 Quiz
Authored by Brett Newberry
History
7th Grade
CCSS covered
Used 41+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which term below is a selection of an item or action from a set of possible alternatives?
opportunity cost
choice
production
consumption
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which term below is what is given up when a choice is made (the second-best alternative)?
opportunity cost
choice
production
consumption
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do producers determine what will be produced?
They pay attention to consumer preferences and available resources.
They produce only what the government suggests they produce.
They roll the dice and hope for the best.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Consumer _____ and ____ determine what is purchased and consumed.
supply and demand
income and services
preference and price
5.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Which of the following statements are TRUE regarding a traditional economy?
(Select 2.)
Economic decisions are based on supply and demand.
Economic decisions are based on custom and historical precedent.
People often perform the same type of work as their parents and grandparents, regardless of ability or potential.
People choose their careers based on skills and preferences.
6.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Which of the following are characteristics of a
mixed economy?
(Select all answers that apply.)
In the private sector, individuals and businesses are the owners and decision makers.
In the public sector, individuals and businesses are the owners and decision makers.
In the public sector, the government is the owner and decision maker.
Most economies today, including the U.S. economy, are mixed economies.
In the private sector, the government is the owner and decision maker.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of resource is the person who has the ideas for new businesses?
natural
human
capital
entrepreneurship
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