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Economic Basics

Authored by Amy Emmerling

Social Studies

8th Grade

Used 4+ times

Economic Basics
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25 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

____________ are the products made in an economy. 

Goods
Services
Consumption

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

______________________ are provided to you by a company. 

Consumption
Goods
Services

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

____________________ is the amount of a good that a company has. 

Supply
Demand
Good

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

__________________ is the willingness and desire of a peson to buy a good. 

Supply
Service
Demand

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the supply decreases and the demand increases then the price will ___________________. 

Decrease
Increase
Stay the same

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the supply increases, but the demand decreases, then the price will _______________. 

Decrease
Increase
Stay the same 

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Natural resources are

something found in nature that satisfies our wants and needs (like a tree cut down for timber)

the amount of goods and services people are willing to buy at a specific time

the work that people do in nature

making goods or service

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