
Macro & Micro Economics
Quiz
•
Business
•
10th - 12th Grade
•
Medium
+2
Standards-aligned
Priscilla Davis
Used 14+ times
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8 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
It is the study of the nations economy as a whole.
Microeconomics
National economy
National output
Macroeconomics
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
It is the measure of a country's total production of final goods and services in a given period of time.
Gross National Product
Gross Domestic Product
Exports
Imports
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Refer to the study of the economic behaviour of individual components like industries, firms, and households.
Macroeconomics
Consumer Behaviour
Microeconomics
Positive Economics
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
It is the main reason why there is a study of microeconomics.
Resources
Scarcity
Household
Profit
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
It is a kind of commodity which refers to tangible object (e.g. cars, clothes, shoes, book and many more).
Production
Services
Consumption
Goods
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Scarcity is when
Unlimited wants is met with limited resources
Forcing to pick some choices and reject the rest
Choosing one alternative means giving up another
All of them
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A necessity is something we need to live. Which answer describes a necessity?
Tags
CCSS.RI.7.2
CCSS.RI.8.2
CCSS.RL.11-12.2
CCSS.RL.8.1
CCSS.RL.9-10.2
8.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Law of demand says if the price of pizza falls, the demand for pizza will what?
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