Economics 101

Economics 101

5th - 8th Grade

13 Qs

quiz-placeholder

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Economics 101

Economics 101

Assessment

Quiz

Social Studies

5th - 8th Grade

Practice Problem

Medium

Created by

Kristie Hudson

Used 5+ times

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13 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Goods are

objects that satisfy people's needs

objects that satisfy people's wants

activities that satisfy people's wants

activities that satisfy people's needs

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Services are

objects that satisfy people's needs

objects that satisfy people's wants

activities that satisfy people's wants

activities that satisfy people's needs

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Anything used to produce an economic good or service is...

service

scarcity

resource

command economy

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The condition of not being able to have all the goods and services you want is...

scarcity

resource

command economy

market economy

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

We deal with the problem of scarcity by creating ______ to distribute limited resources among competing wants and needs.

wars

more resources

less resources

economic systems

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An incentive is something that...

distributes limited resources

forces people to do something

hurts economic systems

encourages or motivates people to do something

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Examples of incentives could be

money

points systems

having someone like us

all of the above

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