5th Grade Economics

5th Grade Economics

5th Grade

10 Qs

quiz-placeholder

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5th Grade Economics

5th Grade Economics

Assessment

Quiz

Social Studies

5th Grade

Practice Problem

Hard

Created by

Nancy Curry

Used 14+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the anagram to help us remember the determinants of demand?

TONY

TONIE

BOBBY

CURRY

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is income?

Money you spend on things you need.

Money you give to charity.

Money earned from a job, tips, investments, etc.

Money you borrowed from the bank.

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What are the five determinants of demand?

  1. 1. Total Cost

  2. 2. Other people

  3. 3. Nationality

  4. 4. Interest

  5. 5. Economy

  1. 1. Taste/Preferences

  2. 2. Other influence

  3. 3. Number of items available

  4. 4. Income

  5. 5. Effects of changes

  1. 1. Total items

  2. 2. Other things

  3. 3. Number of buyers (population)

  4. 4. Interest

  5. 5. Excess supply

  1. 1. Taste/Preferences

  2. 2. Other goods (substitute)

  3. 3. Number of buyers (population)

  4. 4. Income

  5. 5. Expectations

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

iPads drop in price due to improved production methods. What will happen to the demand for Kindle tablets?

The demand for Kindle tablets will increase
The demand for Kindle tablets will decrease
The demand for Kindle tablets will remain the same
The demand for Kindle tablets will fluctuate unpredictably

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is "Economics"?

The study of systems and processes for producing, buying, and selling goods and services

The study of the environment and its preservation
The study of human behavior and culture
The study of space and celestial bodies

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Choose a substitute good for Nintendo Switch

iPhone

Chromebook

PlayStation 4

Samsung TV

7.

OPEN ENDED QUESTION

5 mins • 1 pt

Last week, Giant had a buy one get one sale on peanut butter. As a result, the store sold out of jelly! Using what you know about what causes demand to change, give one possible reason why this might have happened.

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