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7 Economics - Consumers & Businesses

Authored by Melinda Grummet

Social Studies

7th - 8th Grade

Used 115+ times

7 Economics - Consumers & Businesses
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24 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A good is...

A factor in the economy that improves happiness

Physical items that satisfy needs and wants

Actions done for a person by others to satisfy the person's needs and wants

None of the above

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A need is...

A non-essential good or service

A resource needed for survival

A household good

All of the above

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Services are...

Physical items that satisfy a consumer's needs and wants

Actions done for a consumer by others to satisfy the consumer's needs and wants

Something essential to survival

none of the above

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The economic problem is one of:

Limited wants and needs

Unlimited wants and unlimited needs

Unlimited wants and limited resources

Limited wants and unlimited needs

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A Consumer

Sells Goods and Services

Purchases Goods and Services

Eats things

Uses things

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A Producer

Sells things

Builds things

Has skills that you don't

Makes goods or provides services

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The resources or factors of production are:

land, labour, capital and enterprise

goods, services, needs and wants

government, firms, households

consumers & producers

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