SS State Testing: Economics Vocabulary

SS State Testing: Economics Vocabulary

9th - 12th Grade

25 Qs

quiz-placeholder

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SS State Testing: Economics Vocabulary

SS State Testing: Economics Vocabulary

Assessment

Quiz

Social Studies

9th - 12th Grade

Medium

Created by

Heather Simmons

Used 6+ times

FREE Resource

25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Limited quantities of resources to meet unlimited wants

surplus

supply and demand

socialism

scarcity

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Part of economics that studies the economy as a whole and how choices are made on a national, regional, and global basis

Macroeconomics

Microeconomics

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Using resources in a way that maximizes the production of goods and services

equity

efficiency

consumption

distribution

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Place where goods and services are bought and sold

Factor Market

Product Market

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Cost of producing one more unit of a good

Equilibrium Price

Production Cost

Marginal Cost

Gross Cost

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Motivating factors that influence choices

Cost of living

Budgets

Goals

Incentives

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Economic system characterized by central planning and government allocation of resources

Command

Market

Mixed

Traditional

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