Econ Reviewer

Econ Reviewer

9th Grade

•

38 Qs

quiz-placeholder

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Econ Reviewer

Econ Reviewer

Assessment

Quiz

•

Social Studies

•

9th Grade

•

Practice Problem

•

Medium

Created by

Moira Dizon

Used 2+ times

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38 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Pick the best description of what economics is

Is the study of proper allocation of resources

the study of managing finances

An exploration of how societies build infrastructure

A branch of mathematics dedicated to statistical analysis

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which of the following most accurately describes scarcity in the context of economics?

The presence of unlimited resources to meet unlimited human needs

The coexistence of abundant resources and limited human desires

A situation where the supply of useful resources is less than the demand for them

A scenario in which the government can fully meet the demands of its citizens

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

which of the following best describes a "trade-off"

Giving up one resource to obtain another, reflecting the careful allocation of resources

The practice of using multiple resources in a single task to maximize efficiency

A situation where unlimited resources meet unlimited human needs without any sacrifices

The process of simultaneously acquiring two resources for the price of one

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What does "opportunity cost" in economics refer to

The total value of all resources used in a specific economic transaction

The cost of alternatives that are given up when a decision is made

The actual monetary expense of a particular choice

The price paid for a unique opportunity

5.

OPEN ENDED QUESTION

2 mins • 1 pt

Type down the 5 basic economic questions

Evaluate responses using AI:

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6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

the study of individuals, households and firms'

behavior in decision making and allocation of resources

Microeconomics

Macroeconomics

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

materials and substances that occur

naturally in the environment and are used by humans for various purposes

Manmade resources

Human resources

Natural resources

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