Economics Review

Economics Review

4th Grade

19 Qs

quiz-placeholder

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Economics Review

Economics Review

Assessment

Quiz

others

4th Grade

Easy

Created by

Taylor Neeld

Used 18+ times

FREE Resource

19 questions

Show all answers

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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