Economics Pretest

Economics Pretest

9th - 12th Grade

48 Qs

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Economics Pretest

Economics Pretest

Assessment

Quiz

Social Studies

9th - 12th Grade

Practice Problem

Medium

Created by

Logan Genson

Used 8+ times

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48 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 2 pts

Define Economics...

The study of how people get rich.

The study of government spending.

The study of how people balance unlimited wants with limited resources.

The study of how people interact with the environment.

2.

MULTIPLE CHOICE QUESTION

45 sec • 2 pts

The Basic Economic Problem is...

People

Debt

Money

Scarcity

3.

MULTIPLE CHOICE QUESTION

45 sec • 2 pts

Scarcity occurs when...

unlimited needs and wants outweigh limited resources.

people run out of money.

a surplus of inventory.

people are afraid of the economy.

4.

MULTIPLE CHOICE QUESTION

45 sec • 2 pts

What is an Opportunity Cost?

A tariff

Cost of the next best alternative use of resources.

A cost to have access to an opportunity.

5.

MULTIPLE CHOICE QUESTION

45 sec • 2 pts

A person who starts a business to produce a new product in the marketplace is known as...

a manager

an entrepreneur

an economist

a shark

6.

MULTIPLE CHOICE QUESTION

45 sec • 2 pts

Supply Requires...

Producing what consumers want.

Materials needed for a project.

Warehouse stores like Costco

7.

MULTIPLE CHOICE QUESTION

45 sec • 2 pts

Demand is....

A request made by your mom

What people require of you

What consumers want

Rules and Regulations

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