Economics

Economics

7th - 9th Grade

14 Qs

quiz-placeholder

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Economics

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Assessment

Quiz

Social Studies

7th - 9th Grade

Medium

Created by

Sarah Percy

Used 15+ times

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14 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

When consumers make choices, they are limited by

Time and money

Resources

Needs and wants

Opportunity cost

2.

FILL IN THE BLANK QUESTION

20 sec • 1 pt

Opportunity cost is the next best ______________ foregone

3.

OPEN ENDED QUESTION

5 mins • 1 pt

Write a short paragraph to explain the relationship between the scarcity, choice and opportunity cost

Evaluate responses using AI:

OFF

4.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Scarcity is when there are not enough ______________ to satisfy our unlimited wants and needs

5.

OPEN ENDED QUESTION

15 mins • 1 pt

Moana is 20 years old and works part-time at a local coffee shop while studying a Bachelor of Arts. She currently earns $160 per week after tax. Moana is saving up her money to buy something for her student flat. She either wants to buy a heater or a dehumidifier.


Use the D-E-R method to fully explain the concepts of scarcity, choices, means and opportunity cost in relation to Moana.

Evaluate responses using AI:

OFF

6.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Tick the resources below which are examples of capital:

Machinery

Field

Screwdriver

Lawyer

Manager

7.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Tick the resources below which are examples of natural resources:

Machinery

Field

Screwdriver

Lawyer

Manager

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