The work that people do.
Economics

Quiz
•
Social Studies
•
5th Grade
•
Medium
Charlotte Cormier
Used 282+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Labor
Supply
Demand
Producers
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Those who buy a good or service.
Producer
Consumer
Service
Private buisness
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The amount of money that producers are willing
to sell a good or service for.
Profit
Price
Price Incentive
Income
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Money citizens or businesses must pay the
government.
Profit
Interest
Taxes
Expenses
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Things that can be touched such as clothing and
food.
Market
Labor
Services
Goods
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
When producers freely choose to sell and
consumers freely choose to buy, this tends to
help both buyers and sellers. Since consumers
are free to buy what they want, their purchases
reveal to producers what goods and services are
in demand. This helps sellers because demand
tells then what they should produce if they want
to make a profit. It also helps consumers by
making sure producers are only producing things
consumers want or need.
Free Market
Specialization
Voluntary Exchange
Entrepreneurs
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
For centuries, the South focused on crops like
tobacco and cotton. What is this called?
Specialization
Opportunity cost
Embargoes
Free Trade
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