Economics Review
Authored by S. Surratt
Social Studies
8th Grade
Used 13+ times
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30 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
______ have to make CHOICES about what to buy because they don’t have enough money to buy everything they want.
Consumers
Producers
Opportunity Cost
2.
FILL IN THE BLANK QUESTION
30 sec • 1 pt
People get a SALARY by earning an _______ by trading their time and effort for money
Answer explanation
income
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Opportunity Cost
Use of capital goods to create goods & services
People and countries rely on one another
When you buy something, you give up the chance to buy something else
Must have to live.
4.
MULTIPLE CHOICE QUESTION
30 sec • Ungraded
Each country has its own CURRENCY.
True
False
Answer explanation
TRUE
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Anything needed to produce goods & service.
Trade
Resource
Scarcity
Interdependence
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Being dependent on other countries or people to produce the things you don’t produce yourself
Specialization
Interdependence
Scarcity
Resource
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Not having enough of something you want
Specialization
Interdependence
Scarcity
Resource
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