
Economic Intro Review
Quiz
•
Social Studies
•
1st - 12th Grade
•
Medium
John Safford
Used 18+ times
FREE Resource
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25 questions
Show all answers
1.
OPEN ENDED QUESTION
3 mins • Ungraded
What is economics, and why is it important for you to learn about?
Evaluate responses using AI:
OFF
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which term refers to the fact that resources are limited?
Investment
Scarcity
Profit
Capital
3.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which of the following are required for production?
Natural resources
Capital
Labor
Entrepreneurs
Experience
4.
OPEN ENDED QUESTION
3 mins • Ungraded
Explain the difference between a GOOD and a SERVICE.
Evaluate responses using AI:
OFF
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which economic system divides the resources based on ritual, habit, or custom?
Traditional
Command
Market
Capitalist
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
One of the problems with a traditional economy is _______.
people don't know what to do
there are few new ideas
you have to live in rural areas
people are able to make a lot of money
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
One of the problems with a market economy is _______.
lack of freedom to buy and sell
there are few new ideas
there's little help for those struggling
people are able to make a lot of money
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