Economics Quiz

Economics Quiz

9th Grade

15 Qs

quiz-placeholder

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Economics Quiz

Economics Quiz

Assessment

Quiz

Business

9th Grade

Hard

Created by

David Dickey

Used 103+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the system of business in which individuals are free to decide what to produce, how to produce it, and at what price to sell it?

Command Economy

Free Enterprise

Mixed Economy

Market Economy

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the organized effort of individuals to produce and sell goods and services that satisfy society’s needs?

Economics

Business

Supply

Demand

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What remains after all business expenses have been deducted from sales revenue?

Profit

Supply

Demand

Recession

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What term describes the recurrence of periods of growth and recession in a nation’s economic activity?

Business Cycle

Depression

Recession

Supply

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is defined as two or more consecutive three-month periods of decline in a country’s GDP?

Depression

Recession

Business Cycle

Supply

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a severe recession that lasts longer than a typical recession and has a larger decline in business activity?

Recession

Business Cycle

Depression

Supply

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the quantity of a product that producers are willing to sell at each of various prices?

Demand

Supply

Business

Profit

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