Economics Review
Authored by Taylor Neeld
others
4th Grade
Used 19+ times
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19 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 5 pts
Someone who buys or pays for a good or service.
Producer
Consumer
2.
MULTIPLE CHOICE QUESTION
2 mins • 5 pts
Someone who creates a good or service for others to buy or use.
Producer
Consumer
3.
MULTIPLE CHOICE QUESTION
2 mins • 5 pts
An economic condition that exists when demand is greater than supply.
Scarcity
Consumer
Producer
Opportunity Cost
4.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
To be successful, a business must produce
Goods and services that are of low quality
Goods and services that are not needed
Goods and services that people want
Goods and services with a low price
5.
MULTIPLE CHOICE QUESTION
2 mins • 5 pts
TRUE OR FALSE: Opportunity cost is the value of what you give up because you choose to do or buy something else.
True
Not True
6.
MULTIPLE CHOICE QUESTION
2 mins • 5 pts
Land, fuel, water, and minerals are this kind of resource:
Human Resources
Capital Resources
Natural Resources
7.
MULTIPLE CHOICE QUESTION
3 mins • 5 pts
Money, buildings, and equipment are this kind of resource:
Human Resources
Capital Resources
Natural Resources
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