Economics Quiz

Economics Quiz

8th Grade

21 Qs

quiz-placeholder

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Economics Quiz

Economics Quiz

Assessment

Quiz

History

8th Grade

Hard

Created by

Ms. Means

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21 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of economic system does the United States have?

Market

Command

Traditional

Mixed

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A tribe of Native Americans relied on hunting and farming for food. Each person had a specific job and would pass that job on to their children. Everyone divided work for the good of the community. Which economic system is described above?

Market

Command

Traditional

Mixed

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the former Soviet Union consumers had to wait in long lines to buy everyday items like bread. They did not have many choices and the government controlled all factories and made all economic decisions. What type of economic system did they live in?

Market

Command

Traditional

Mixed

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Scarcity is best defined as...

A large amount

Not having anything

Being rare or low in supply

None of the above

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following would be considered a natural resource?

tractor

waitress

wood

money

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a service?

Something that is produced or made

The transferring of one item to a person in exchange for another item

A task or activity that is performed (done) for you

The collection of money to provide government support

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

A key obstacle which influences, and impacts people’s economic choices is

unlimited resources.

the scarcity problem.

the abundance problem.

All of the above

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