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Econ Unit Test Review

Authored by Tracy Rice

Social Studies

6th - 8th Grade

Used 14+ times

Econ Unit Test Review
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73 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

desire individuals and nations have that can be met by getting a good or a service

Scarcity

Want

Need

Economy

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the study of how individuals and nations make choices about ways to use scarce resources to fulfill their needs and wants

Scarcity

Wants

Needs

Economics

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

all things that can be used—natural resources, labor, buildings, and tools—to make goods or services

Economics

Needs

Resources

Wants

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the situation of not having enough resources to satisfy all one's wants

Resources

Scarcity

Economics

Needs

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a nation's way of producing things its people want and need

Economics

Scarcity

Economic System

Resource System

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

an economic system in which the decisions of what, how, and for whom to produce are based on custom or habit

Traditional Economy

Command Economy

Scarcity

Economic Economy

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

an economic system in which individuals and businesses own all resources and make economic decisions on the basis of price

Traditional Economy

Market Economy

Command Economy

Economic System

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