
Chpt 3 Economics 101
Quiz
•
Other
•
6th - 8th Grade
•
Medium

Sophia Patterson
Used 5+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The gap between limited resources and unlimited wants is known as ______________.
demand
scarcity
supply
surplus
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The quantity or how much the market can provide is known as ______________.
demand
scarcity
supply
surplus
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The amount of a product or service is desired by buyers is known as ______________.
demand
scarcity
supply
surplus
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The amount of an asset or resource that exceeds the amount that is utilized.
demand
scarcity
supply
surplus
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
All of the following are examples of macro-economic principles except:
national income
inflation
unemployment
price
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The study of the economy with a large scope. Looking at regional, national and global units.
macro-economics
micro-economics
economics
supply and demand
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The study of the economy with a narrow scope. Looking into individuals and firms.
macro-economics
micro-economics
economics
supply and demand
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