Economics Quiz Review

Economics Quiz Review

7th Grade

25 Qs

quiz-placeholder

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Economics Quiz Review

Economics Quiz Review

Assessment

Quiz

Social Studies

7th Grade

Medium

Created by

Luke Tudor

Used 57+ times

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25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The process by which an economy is transformed from primarily agriculture to one based on manufactured goods.

Income

Industrialization

Infrastructure

Standard of Living

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The value of what we give up when we choose something else....also famously known as an "OC."

Opportunity Cost

Standard of Living

Poverty

Income

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Poor; living on less than $2 a day.

Income

Opportunity Cost

Poverty

Infrastructure

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Earned money

Standard of Living

Opportunity Cost

Poverty

Income

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or False: Renewable resources, such as petroleum, cannot be replaced over time.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Services and facilities necessary for an economy to function (transportation systems, water, sewage, communication systems, etc.)

Infrastructure

Industrialization

Poverty

Income

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The level at which a person, group, or nation lives as measured by the extent by which it meets its needs.

Opportunity cost

Standard of Living

Income

Infrastructure

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