
Economics Quiz
Authored by Anna Dickinson
Social Studies
3rd Grade
Used 4+ times

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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the basic concept of supply and demand?
How much a product costs
The relationship between how much of a good is available and how much people want
The amount of money a business makes
The types of products a store sells
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of a service?
A toy car
A haircut
A sandwich
A book
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does an entrepreneur do?
Buys products from stores
Works at a bank
Starts and runs a new business
Teaches in a school
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a need?
Something you want like video games
Something you must have to survive, like food
Money to buy toys
A new bicycle
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is profit?
The money you spend on buying something
The money left after all costs are paid in a business
The cost of making a product
The price of an item in a store
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which is usually better to use for everyday purchases?
Borrowing money
Using cash
Using credit
Trading items
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does scarcity mean in economics?
There is more than enough of something for everyone
There is just enough of something for everyone
There is not enough of something for everyone
The price of something is very low
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