Econ review so far
Quiz
•
Business
•
10th Grade
•
Medium
Brent Borcsani
Used 19+ times
FREE Resource
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95 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is a Savings Account?
Where an investor pools together several people's money and invests it in stocks and bonds. Good if you don't have the money to diversify and want to make more money than a CD or savings account.
Where you can deposit your money into a bank. You earn a small amount of interest off this investment method. You can access your money, but the bank will penalize you if you withdraw from it too much.
You own part of a company. You may earn a dividend where you get part of the company's prot. You want to buy this when the price is low and sell when it's high.
Where you can deposit your money into a bank for a specied amount of time to earn a higher amount of interest. You cannot touch your money during the time it is invested this way.
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A producer wants to....
supply goods while charging the lowest price
buy goods while paying the lowest price
supply goods while charging the highest price
buy goods while paying the highest price
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
When a good is scarce, it means that ______.
nobody is interested in buying it
it is cheap and easy to make
demand drops while supplies rise
it is hard to find and likely to cost more
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What you give up when you choose one thing over another is called ______.
Capital
Demand
Opportunity Cost
Supply
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
In which of the following economic systems do individuals make all the choices about what to make, buy, and sell?
Command economy
Traditional economy
Market economy
Mixed economy
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
In which type of economic system do people choose what goods to make based on custom?
Command economy
Mixed economy
Market economy
Traditional economy
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
When inflation happens, ______.
The prices of goods go down
The value of money goes up
The prices of goods go up
The cost of living decreases
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