
Intro Economics Quiz
Business
10th - 11th Grade
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11 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Economics is the study of how people use _______ resources to satisfy their wants
unlimited
natural
scarce
money
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
A social science concerned with the production, distribution, and consumption of goods and services. This is the definition of?
business
money
economics
all of the answers listed
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
A consumer’s willingness to pay a particular price for a specific good or service is the concept of?
supply
demand
scarcity
consumption
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Consumers will buy ____ of something at a lower price and buy ____ of something at a higher price. This is the principle of demand.
more, more
less, less
more, less
less, more,
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Supply is the total amount of a specific good and service that is available to consumers.
true
false
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Producers will sell more of something at a ______ price and sell less of something at a ______ price.
higher, lower
lower, higher
higher, higher
lower, lower
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Scarcity is the gap between limited resources and theoretically ________ wants.
unlimited
limited
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