Introduction to Economics

Introduction to Economics

7th Grade

9 Qs

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Introduction to Economics

Introduction to Economics

Assessment

Quiz

Social Studies

7th Grade

Practice Problem

Easy

Created by

Emily Fitzgerald

Used 10+ times

FREE Resource

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9 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This refers to how much of something is available to you

Supply

Demand

Opportunity Cost

Production

2.

FILL IN THE BLANK QUESTION

1 min • 1 pt

If I have to make a choice between reading a book or watching my favorite show and I choose to watch my favorite show, what is the opportunity cost

3.

OPEN ENDED QUESTION

3 mins • 1 pt

How are scarcity, choice, and opportunity cost all related? (Which one leads to another and so on...)

Evaluate responses using AI:

OFF

4.

DRAW QUESTION

3 mins • 1 pt

Draw a supply and demand curve (label them) and identify on the table where the equilibrium price would be

Media Image

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If supply goes up and demand goes down, what will happen to the price?

Goes up

Goes down

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If supply goes down and demand goes up, what will happen to the price?

Goes up

Goes down

7.

FILL IN THE BLANK QUESTION

1 min • 1 pt

This term refers to where supply and demand are the same and therefore the price will not go up or down

8.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a type of resource?

Natural

Human

Capital

School

9.

OPEN ENDED QUESTION

3 mins • 1 pt

List ONE resource for each type (ex- natural=water)

Natural, Capital, Human, Entrepreneur

Evaluate responses using AI:

OFF