Ramirez- Chapter 1 Econ Quiz
Quiz
•
Social Studies
•
9th - 12th Grade
•
Medium
Dana Ramirez
Used 2+ times
FREE Resource
Enhance your content in a minute
30 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are Wants?
Things we would like to buy (toys, video games)
Things we must have to live (air,food, water, shelter,)
Things that people make or grow (clothes, food, car)
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are Needs?
Things we would like to buy (toys, video games)
Things we must have to live (air,food, water, shelter,)
Things that people make or grow (clothes, food, car)
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Scarcity?
Money that people earn
Things we would like to buy (toys, video games)
There is not enough of a resource for everyone who wants it.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a Consumer?
Someone who provides goods and services
Things we would like to buy (toys, video games)
Someone who buys things with money
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a Producer?
Someone who provides goods and services
Things that people make or grow (clothes, food, car)
Someone who buys things with money
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Economics is.....
...the study of how society decides when, what and how to produce
...the study of supply and demand
...easy and you don't need to know any specific words
...only relevant to large businesses and government
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What book, written by Smith, is considered by many to be the cornerstone of capitalism and was Smith's most famous work?
The Wealth of Nations
Capitalism and its Implications
Economics and Political Systems
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