Economics Review

Economics Review

2nd - 4th Grade

8 Qs

quiz-placeholder

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Assessment

Quiz

Social Studies

2nd - 4th Grade

Hard

Created by

Conley Hausle

Used 7+ times

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8 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a natural resource?

Items made by people

People who provide a service

Anything we buy

A resource that is directly from nature

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a human resource?

Resources straight from nature

Resources made by people

People who work to produce goods and services

Any item we purchase

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a capital resource?

Resources straight from nature

Resources made by people

People who work to produce goods and services

Any item we purchase

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a good?

Resources straight from nature

Resources made by people

People who work to produce goods and services

Any item we purchase

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Why does specialization encourage trade?

People want goods and services they do not have.

The price of goods and services decreases with specialization.

Specialization encourages people to travel and spend money.

Specialization provides different jobs in a community.

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Why do we make economic choices?

Because we want to.

Because it's fun

Because we can't always have everything we want.

Because we have to

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a service?

An item we buy

An item directly from nature

Something we pay someone to do for us

An item made by other people

8.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

If I decide to eat a cookie instead of a brownie, what is my opportunity cost?

The cookie

The brownie

Nothing

The cookie and the brownie