market economy

market economy

7th - 12th Grade

15 Qs

quiz-placeholder

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market economy

market economy

Assessment

Quiz

Social Studies

7th - 12th Grade

Easy

Created by

JULIA MCBRIDE

Used 109+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Producers battling over who can make the most profit

Market

Competition

Consumer

Opportunity Cost

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The limited amount of resources available

Resource

Competition

Scarcity

Cost

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The number of consumers who want something.

Supply

Opportunity

Resources

Demand

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The entire activity of buying and selling that takes place out in the world.

External benefit

Market

Supply

Competition

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The benefit you give up by choosing to do one thing instead of another.

Scarcity

Consumer

Market

Opportunity Cost

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The process of goods and services being produced and consumed is called

Inflation

Economy

Consumer

Opportunity

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount of something that is available.

Supply

Producer

Competition

External Cost

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