Economic Test Review 2024

Economic Test Review 2024

6th - 8th Grade

32 Qs

quiz-placeholder

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Economic Test Review 2024

Economic Test Review 2024

Assessment

Quiz

Social Studies

6th - 8th Grade

Practice Problem

Hard

Created by

Carol Adkins

Used 9+ times

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32 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The consumer is the most important in what type of economic system?

free markey

command

traditional

exposure

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Rivalry between producers of goods services, usually results in better quality of goods and services at lower prices.

resource

opportunity cost

competition

service

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The inability to satisfy all your wants at the same time (since goods and services are limited) is called ____.

Consumption

Scarcity

Opportunity Cost

Resources

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Items or actions (such as free samples or sales) that motivate you to change your economic behavior are called ____.

Incentives

Resources

Opportunity Cost

Production

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Factors of production used to make goods and services are called _____.

Hint: there are 4 kinds of these.

Resources

Incentives

Choice

Opportunity Cost

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

These resources come from nature.

Capital

Human

Natural

Entrepreneurship

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Workers are this type of resource.

Human

Capital

Natural

Entrepreneurship

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