Economics Part I

Economics Part I

8th Grade

21 Qs

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Economics Part I

Economics Part I

Assessment

Quiz

Social Studies

8th Grade

Medium

Created by

Michael Decker

Used 4+ times

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21 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do you call a PERSON who buys or uses goods and services?

consumer
producer
worker
lucky

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do you call the PERSON who makes goods or provides services?

producer
consumer
customer
unlucky

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

My father owns a factory that makes shoes. He makes the coolest boots. Everyone wants his boots. He exports thousands of pairs of boot each year. My father is an ______.

consumer

agricultural worker

entrepreneur

resource officer

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Why are coal, silver, and oil considered natural resources?

They are a person's education.

They are tools used in a business.

They are a person's training.

They are found naturally in the earth.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

These are the tools and resources used to run a business.

stuff I need

human capital

capital goods

natural resources

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

My boss purchased new dump trucks and cement mixers for us. Dump Trucks and Cement Mixers are examples of what type of resource?

Natural

Human

Capital

Tariff

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the supply of a good is higher than the demand, what happens to the price?

It stays the same
Price goes down
Price goes up
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