Econ 2023

Econ 2023

6th - 8th Grade

20 Qs

quiz-placeholder

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Econ 2023

Econ 2023

Assessment

Quiz

Social Studies

6th - 8th Grade

Medium

Created by

Laurie Harris

Used 1K+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the government use taxes for?

private goods and services

public goods and services

paying its own taxes

 increasing consumption

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The circular flow of economics includes interactions between all of the following except -

businesses

incentives

individuals

government

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Technology has contributed to the global economy by -

increasing the cost of production

slowing the sale of goods and services

lowering the cost of production

eliminating goods and services

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which statement below does not describe why VA and the US trade with other nations?

to make money off the other countries with fewer resources

to obtain goods and services they cannot produce themselves

to buy goods and services at a lower cost

To create jobs

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Markets in which the buying and selling of worldwide goods and services by all nations takes place is called

Global Economy

Free Market economy

Command Economy

Mixed economy

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not a function of private financial institutions?

make loans and charge interest

pay taxes for individuals

take deposits and pay interest

keep money safe and cash checks

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Financial institutions make their money primarily through

ATM service fees 

checking account fees   

stock market investments  

interest on loans

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