Economics
Quiz
•
Social Studies
•
5th Grade
•
Practice Problem
•
Medium
Kelly DiGiovanni
Used 76+ times
FREE Resource
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The amount of money a person earns for their work.
budget
income
tax
labor
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
food, clothing and shelter
wants
needs
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
video games, televisions, toys
wants
needs
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A plan for how much money will be spent on each type of item that a person must buy.
income
checking account
budget
interest
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
You set the table, your mom makes dinner, and your brother loads the dishwasher. This is an example of:
productive capacity
scarcity
opportunity cost
division of labor
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which item might someone need to borrow money from the bank in order to buy?
sneakers
a house
groceries
couch
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
People earn money for their work. Their work is called _______.
entrepreneur
employer
labor
income
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