Economic Intro Review

Economic Intro Review

1st - 12th Grade

25 Qs

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Economic Intro Review

Economic Intro Review

Assessment

Quiz

Social Studies

1st - 12th Grade

Medium

Created by

John Safford

Used 18+ times

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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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