the Economic Way of Thinking

the Economic Way of Thinking

8th - 9th Grade

18 Qs

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the Economic Way of Thinking

the Economic Way of Thinking

Assessment

Quiz

Social Studies

8th - 9th Grade

Easy

Created by

Danyelle Matthews

Used 30+ times

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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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