Economics Fundamentals

Economics Fundamentals

8th Grade

21 Qs

quiz-placeholder

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Economics Fundamentals

Economics Fundamentals

Assessment

Quiz

Social Studies

8th Grade

Practice Problem

Medium

Created by

Tyler Minks

Used 31+ times

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21 questions

Show all answers

1.

DROPDOWN QUESTION

1 min • 1 pt

People have to make choices because ​ (a)  

resources are limited.
resources are abundant.
resources are varied.
they simply have to.

2.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Select the four types of resources.

Natural

Human

Capital

Entrepreneurship

Fundamental

3.

DRAG AND DROP QUESTION

1 min • 1 pt

That which is given up when a choice is made is called ​ (a)   .

opportunity cost
scarcity
fundamental cost
supply & demand

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount of money exchanged for a good or service.

Cost
Expense
Value
Price

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are incentives?

Rewards or benefits offered to encourage certain behaviors or actions.
Everyday tasks
Random acts of kindness
Punishments for undesirable behaviors

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is an example of an economic incentive?

Receiving a gift from a friend
Getting a promotion for good performance
Winning a lottery ticket

Buy one, get one free

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Snow cones during December

high demand
low demand

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