Economics Review - March 2021

Economics Review - March 2021

7th Grade

27 Qs

quiz-placeholder

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Economics Review - March 2021

Economics Review - March 2021

Assessment

Quiz

Social Studies

7th Grade

Medium

Created by

Matt Walker

Used 18+ times

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27 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The inability to satisfy all wants at the same time. Resources and goods are limited, so choices must be made.

production

consumption

scarcity

price

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount of money that is exchanged for a good or service

production

scarcity

choice

price

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Things that come from nature used to produce goods and other services.

natural resources

human resources

capital resources

entrepreneurship

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The using of goods and services

choice

consumption

incentives

resources

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The tools, man-made objects or money used in the production of goods and services

human resources

capital resources

natural resources

entrepreneurship

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is given up when a choice is made. The highest valued alternative not chosen.

entrepreneurship

choice

scarcity

opportunity cost

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The people that make or sell goods or provide services.

capital resources

human resources

natural resources

entrepreneurship

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