Economics Review
Authored by Amy Lutick
Other
6th - 8th Grade
Used 65+ times
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25 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When companies use resources to make goods and services it is called what?
Consumption
Decision
Choice
Production
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Choice is when a person makes a decision and chooses what they want based on limited resources.
True
False
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
is the inability to satisfy all wants at the same time. All resources and goods are limited.
Choice
Opportunity Cost
Decision
Scarcity
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What you give up when you make a choice based on limited resources and scarcity, the thing you gave up was the
Choice
Opportunity Cost
Decision
Scarcity
5.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
What are the three types of resources?
Natural
Human
Incentive
Price
Capital
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of a good?
Laptop
Plumber
Electrician
Dog Walker
7.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which of the following are examples of a service?
Postal Worker
Phone
Laptop
Pet Sitting
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