Economics Review
Quiz
•
Social Studies
•
4th Grade
•
Medium
Margaret Richards
Used 44+ times
FREE Resource
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18 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
As a consumer, this is the thing you give up when making a choice.
profit
opportunity cost
loss
reward
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a business faces a problem and has to make a tough decision, this is what it means when they face a possible loss.
loss
reward
problem
risk
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The difference between the money people make when they produce a good or service, and the money they spend on expenses.
profit
revenue
reward
cash
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The value of a good or service, stated in money terms.
amount
cost
price
money
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a business spends more in expenses than they earn in revenue, they suffer a
headache
ruined business
risk
loss
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The people who buy goods or services.
customers
citizens
shoppers
buyers
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Hayley made $30,000 selling her bracelets, before she subtracted her expenses. $30,000 is her total
profit
revenue
gain
reward
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