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Economics

Authored by Ellen Koh

Social Studies

3rd - 4th Grade

Used 1K+ times

Economics
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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the study of the buying, making, and selling of goods and services

good

economics

scarcity

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If there are 4 pieces of pie and 3 people, is there scarcity?

yes

no

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

I bought a lollipop for $1 and sold it to my sister for $2. Did I make a profit or incur a loss?

profit

loss

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The process of choosing one good or service over another. The item not chosen is the __________.

good

loss

opportunity cost

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

I go to the doctor for a checkup. The doctor is providing a __________.

good

service

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

trading one good or service for another is

profiting

bartering

being nice

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

I buy an apple at the supermarket. The apple is a

good

service

opportunity cost

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