Market Terms/ Economic Systems/ U.S. Economy
Authored by Ariana Surkes
Social Studies
8th Grade
Used 7+ times
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32 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
People have to make choices because -
PRODUCTION IS SCARCE
RESOURCES ARE LIMITED
RESOURCES AVAILABLE AND CONSUMER PREFERENCES
RESOURCES AVAILABLE AND CONSUMER PREFERENCES
2.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Name four types of resources-
Natural
Synthetic
Human
Capital
Entrepreneurship
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
That which is given up when a choice is made is called ___ __ .
Multiple Opportunities
Scarce Chances
Limited Resouces
Opportunity Cost
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The amount of money exchanged for a good or service is the ____ .
Demand
Price
Supply
Incentives
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
____ are used to change economic behavior.
Prices
Incentives
Productivity
Resources
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What determines price?
The interaction of supply and demand
The coexistence between supply and demand
Resource availability and consumer preferences
Based on custom or trade
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The amount of a good or service that consumers are willing and able to buy at a certain price
Demand
Supply
Consumption
Free market
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