11a Economic Concepts Classwork

11a Economic Concepts Classwork

5th Grade

12 Qs

quiz-placeholder

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11a Economic Concepts Classwork

11a Economic Concepts Classwork

Assessment

Quiz

Other

5th Grade

Medium

Created by

Carrie O'Hanlon

Used 79+ times

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12 questions

Show all answers

1.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Select the 4 factors of production, or resources

Entrepreneurship

Human

Natural

Monetary

Capital

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

All of the 8th grade teachers want a donut that Ms. O brought, but Mrs. Griffin won't get one. What concept best supports this statement?

Supply

Production

Scarcity

Choice

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Ms. O could pick from M&Ms, Skittles, or Laffy Taffy. She can't have everything, so she selected the M&Ms.


What concept best describes this scenario?

Production

Incentive

Price

Choice

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The item shown is what type of resource?

Human

Natural

Entrepreneurship

Capital

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What is Curtis' opportunity cost?

Candy

Monster Energy Drink

Shopping time

Nothing

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What is the incentive for buying Cracker Jacks?

The delicious taste

Prize inside

Lots of Carmel Corn

Spending money

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Production is the act of __________ resources to _________ goods and services.

combining; make

using: use

making; combine

using; sell

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