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Economic Basics

Authored by Dana Ortaldo

Geography, Social Studies

6th - 8th Grade

Used 58+ times

Economic Basics
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13 questions

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1.

FILL IN THE BLANK QUESTION

5 mins • 1 pt

What is the study of how people meet their wants and needs?

2.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

The money or time you spend on one thing that cannot be spent on something else is a(n) __________?

demand

supply

opportunity cost

consumer

3.

FILL IN THE BLANK QUESTION

5 mins • 1 pt

The desire for a certain good or service is ________?

4.

FILL IN THE BLANK QUESTION

5 mins • 1 pt

The ability or willingness to produce a good or service is ____?

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Having a limited quantity of resources to meet unlimited want is _________?

supply

scarcity

demand

minimum

6.

FILL IN THE BLANK QUESTION

5 mins • 1 pt

The people or business that make and sell goods or services are _________?

7.

FILL IN THE BLANK QUESTION

1 min • 1 pt

The people or businesses that buy, or consume, goods or services are _____________?

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