
Basic Economic Concepts Quiz
Authored by STEPHANIA MESA
Social Studies
4th Grade
Used 7+ times

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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are goods?
Things that are produced, such as food, clothing, and cars.
A plan for spending expected money.
Activities we pay others to perform for us.
The money paid to the government.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does 'services' refer to?
The money collected by the government.
A plan for spending money.
Things we pay others to do for us.
Items that are produced and used.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is scarcity?
A plan for managing finances.
The idea that the things and resources people want and need are limited.
A government function.
A type of market.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a market?
A place where goods are stored.
A type of tax.
A plan for financial management.
Any place where economic activity occurs.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are factors of production?
A type of economic scarcity.
The resources, including land, capital, and workers, used to create a good or service.
The money paid to the government.
A plan for spending money.
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
House: Goods or Service?
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an example of a service?
A book
A movie ticket
A haircut
A smartphone
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