Unit 4 Test (Economics)

Unit 4 Test (Economics)

6th Grade

22 Qs

quiz-placeholder

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Unit 4 Test (Economics)

Unit 4 Test (Economics)

Assessment

Quiz

Social Studies

6th Grade

Medium

Created by

Faith Carroll

Used 3+ times

FREE Resource

22 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Which of these BEST represents a capital investment for a company?
advertising
hiring new employees​​​​​​​
downsizing factory staff
buying new equipment

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

A computer programmer, bank teller, and construction worker are all examples of:
technical resources
capital resources
natural resources
human resources

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What impact do incentives have on behavior?
Consumers ignore incentives and make random decisions.
Incentives encourage consumers to buy more expensive products.
Incentives can encourage consumers to buy certain products over others.
Incentives always lower the price of goods.

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Maria goes on a shopping trip to get ready for her vacation. She loads her cart with a new purse for $12.00, a sun hat for $4.00, magazines for $6.00, and a beach towel for $4.00. When she gets to the register, she realizes she only has $20.00 in her pocket. Use the passage to answer the question. If Maria decides to purchase the sun hat, towel, and bathing suit, what is the opportunity cost of her purchase?
new purse
the magazines
the sun hat
the towel

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

According to the law of demand, what role do low prices serve for buyers?
substitute
reward
supply
penalty

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

How does scarcity affect customers?
Limited money and resources force consumers to make choices.
Unlimited wants and needs limit customers to small purchases.
Limited time prevents customers from making decisions.
It encourages strong economic growth and entrepreneurship

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

How does competition benefit consumers in a market economy?
It forces consumers to buy fewer products.
It leads to lower prices and more choices for consumers.
It increases the prices of all goods.
It discourages businesses from innovating.

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