
Humanities Quiz - Year 7
Authored by Zoe Delahunty
Other
6th - 8th Grade
Used 1+ times

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5 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 10 pts
What is profit?
the study of how resources are allocated to produce and distribute goods and services. In other words, why and how things get made and how they are paid for
an amount of money that you gain when you are paid more for something than it cost you to make, get or do it
a fundamental principle of economics that states that at a higher price, consumers will demand a lower quantity of a good
means there are limited resources available to meet unlimited wants
2.
FILL IN THE BLANK QUESTION
1 min • 5 pts
Word to do with opportunity cost:
3.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
What is the wants option?
An i phone
clothes
fresh water
a house to live in
4.
MULTIPLE SELECT QUESTION
1 min • 5 pts
Click on all right answers: Needs are.....
Something we desperately need to have
Something we need to survive
Something we can purchase with money
5.
MULTIPLE CHOICE QUESTION
30 sec • Ungraded
Is opportunity cost the second or third option out of all?
Second
Third
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