Quiz 1 econ

Quiz 1 econ

12th Grade

11 Qs

quiz-placeholder

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Quiz 1 econ

Quiz 1 econ

Assessment

Quiz

Social Studies

12th Grade

Hard

Created by

Milton Woods

Used 2+ times

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11 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an economy?

It describes how a country manages it's money and resources

How one country pays the other

How a country protects it's citizens

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A person purchasing the good or service

commodity

consumer

creator

producer

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An item that is traded in an economy.

goods

services

demand

profit

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An activity that a business or person trades for payment.

services

supply

scarcity

land

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The exchange (goods or services) for other goods or services without using money.

barter

produce

specialization

services

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The extent to which consumers want to certain good or service.

demand

supply

opportunity cost

entrepreneur

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The amount of a product or service in the market.

shortage

surplus

demand

supply

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