Economics

Economics

9th Grade

20 Qs

quiz-placeholder

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Assessment

Quiz

Business

9th Grade

Practice Problem

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Created by

Antonius James

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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economic System where there is limited technology and ideas are passed down from generation to generation

Command
Traditional
Mixed
Market

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How will scarcity of a capital good impact price?

Price would go up
Price would go down
Price would stay the same
You wouldn't sell any

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these jobs is involved in production?

Secretary
Factory worker
Truck driver
Zoo keeper

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Quantity means

best item
the amount

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What do you need to produce other goods and services?

consumer goods
capital goods
nondurable goods
Gross Domestic Product (GDP)

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The thing that you give up (the next best alternative) when you make a decision is known as

Opportunity Cost
Scarcity
Incentive
Choice

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Trading something for something else - no currency involved

demand
barter
goods
market

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