Economics Quiz - Unit Assessment (4th Grade)

Economics Quiz - Unit Assessment (4th Grade)

4th Grade

18 Qs

quiz-placeholder

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Economics Quiz - Unit Assessment (4th Grade)

Economics Quiz - Unit Assessment (4th Grade)

Assessment

Quiz

Social Studies

4th Grade

Practice Problem

Medium

Created by

Marissa Gabel

Used 38+ times

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18 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

If the price of an item is extremely high, how is the consumer most likely to react if he must have the item today?

a) The consumer may realize the demand is high and wait until next time to buy

b) The consumer decides to wait until they are on sale

c) The consumer buys many of the items at once

d) The consumer purchases a similar item at a lower price

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which of the following is not a service?

a) hair stylist

b) automobile mechanic

c) pet groomer

d) potato chips

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which of the following is an example of a natural resource?

a) chairs

b) water

c) teacher

d) scissors

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which of the following is an example of a capital resource?

a) assembly line

b) police officer

c) oil

d) bus

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which of the following is an example of a human resource?

a) baker

b) table

c) wind

d) money

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

In a market economy, consumers can do which of the following?

a) set their own income

b) spend their money in only the United States

c) shop in different places to find the best value for their money

d) shop only at one store

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

When more than one business sells the same good or service it is called

a) supply

b) demand

c) competition

d) resources

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