Intro to Economics

Intro to Economics

Professional Development

9 Qs

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Intro to Economics

Intro to Economics

Assessment

Quiz

Social Studies

Professional Development

Practice Problem

Hard

Created by

Arleen Newett

Used 3+ times

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9 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does barter mean?

to trade

To give someone something (item) and get something in return

to give in exchange

All responses are correct.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All types of businesses that are not related to the same good or service are called industry.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Money & manmade objects owned by a business to help make a product or perform a service.

are called industry.

are called capital.

are called services.

are called goods.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A person who takes the risk & starts a business in hopes of earning a profit is called an entrepreneur.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A government decides the needs of the people and determines the best way to produce it for everyone is called a command economy.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A system that relies on consumption choices made by consumers.

Capitalism/Market

Command/Socialism

Mixed Economy

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Tangible, or touchable, items that can be bought or sold.

Services

Goods

Barter

8.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A system for how goods & services are produced & distributed in a society is called

an industry.

an entrepreneur.

an economy.

9.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Intangible actions people perform; Help or work provided by others are called Services.

True

False