
the Economic Way of Thinking
Quiz
•
Social Studies
•
8th - 9th Grade
•
Easy
Danyelle Matthews
Used 30+ times
FREE Resource
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18 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Benefits, or REWARDS, offered to encourage people to act a certain way are
costs
incentives
profits
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Consequences people try to avoid are
benefits
costs
incentives
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Expansion of international trade, communications, and transportation across regions, nations, and cultures
globalization
voluntary trade
scarcity
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Intangible actions or activities that one person performs for another
Goods
Services
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Money left over after a business has paid all its costs – wages, rent, utilities, taxes, etc.
incentives
profits
competition
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
People exchange something they value less for something they value more
opportunity cost
globalization
voluntary trade
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Results that are not expected or predicted. Usually used when referring to government policies that produce unwelcome results
benefits
profit
competition
unintended consequences
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