Economic Principles Week 6

Economic Principles Week 6

5th Grade

22 Qs

quiz-placeholder

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Economic Principles Week 6

Economic Principles Week 6

Assessment

Quiz

Social Studies

5th Grade

Medium

Created by

Kolaya Horne

Used 4+ times

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22 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A ________________ occurs when there is a greater supply of something than a demand for it.

surplus

demand

supply

inventory

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A ________________ is not having enough of something.

opportunity cost

supply

demand

scarcity

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

____________________ is mtually relying on each other to get things done.

Interdependence

Training

Importing

Exporting

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

________________ is when you buy, sell, or exchange a good or service for something else you want or need.

Interdependence

Trade

Import

Export

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Someone who makes a good or provides a service.

Producer

Consumer

Supply

Demand

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A person who buys goods and services.

Producer

Consumer

Supply

Demand

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount of product that is available.

Producer

Consumer

Supply

Demand

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