Intro to Economics

Intro to Economics

9th - 12th Grade

20 Qs

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Intro to Economics

Intro to Economics

Assessment

Quiz

Social Studies

9th - 12th Grade

Practice Problem

Medium

Created by

Dustin Moore

Used 24+ times

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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is "the economy"

Money

The stock market

the wealth and resources of a country or region, especially in terms of the production (Creating) and consumption (using) of goods and services.

Not having enough resources to produce all the goods and services people need and want.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an example of a GOOD?

Cashier

Teacher

Phone

Nurse

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an example of a SERVICE?

Phone

Nurse

Shoes

Car

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Food, Shelter and Water are all examples of _________?

Wants

Needs

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Our WANTS and NEEDS are UNLIMITED, but our RESOURCES are LIMITED. In Economics, this is referred to as_________.

Opportunity Cost

Scarcity

The economy

Aggregate Demand

6.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Scarcity leads to the need to make CHOICES. The Three main Choices (or QUESTIONS) are

What to Produce?

How to Produce?

For Whom to Produce?

How much should taxes be?

How much should the government spend?

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The United States Economy is an example of a

Command Economy

Market Economy

Mixed Economy

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