Economics Basics

Economics Basics

9th - 12th Grade

20 Qs

quiz-placeholder

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Economics Basics

Economics Basics

Assessment

Quiz

Social Studies, Business

9th - 12th Grade

Medium

Created by

Bill Hughes

Used 2+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A person who buys goods and services

consumer
entrepreneur
resource
currency

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Individuals who come up with a new idea for a good or service, then they make it a reality

resource
human resources
consumer
entrepreneur

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Something we pay for that we can touch

goods
services

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Something we use from nature

natural resource
human resource
capital resource
entrepreneur

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The idea that resources are limited; we don't have an unlimited supply of what we want

scarcity
supply
demand
inflation

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is a service?

A job
Something someone does for you
A need
Something you do for another person

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is opportunity cost?

the value of the next best option that is not selected when a choice is made.

there is not enough of it.

things people make to earn money.

actions people do to earn money.

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