Economics Basics Quiz
Quiz
•
Social Studies
•
6th - 8th Grade
•
Medium
Maureen Nolan
Used 172+ times
FREE Resource
26 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A goal of the Federal Reserve is to -
keep the economy stable
provide tax money to the government
set the tax rate
prevent the formation of monopolies
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An economic system where people, businesses, and the government all make economic decisions is called?
Traditional
Mixed
Free Market
Command
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A person that makes, grows or supplies something is a:
Group of answer choices
producer
consumer
governor
entrepreneur
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The money left over after a business pays for what it costs to make something is called--
resources
profit
purchases
opportunity cost
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a free market economy --
consumers decide how much things will cost
supply and demand decide how much things will cost
the government decides how much things will cost
businesses decided how much something will cost
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Carlos' opportunity cost for going to the movies?
the price of the movie tickets
enjoyment of seeing the movies
value of the computer game
Going to 7-11 with his friends
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What kind of business is best described by this statement?
proprietorship
partnership
corporation
Stock market
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