
Assignment 3 Quiz
Quiz
•
Social Studies
•
5th Grade
•
Practice Problem
•
Medium
Olivia Householder
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19 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who is someone that makes a good or provides a service?
producer
consumer
supplier
economist
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are people who buy goods and services called?
producers
consumers
suppliers
economists
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a CONSUMER doesn't buy enough of a good or service it may cause PRODUCERS to ______ the cost of it.
raise
lower
remove
cancel
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the amount of product that is available?
Demand
Surplus
Supply
Inventory
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the amount of product people actually want or need?
Demand
Surplus
Supply
Inventory
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is it called when there is a bigger supply of something than the demand for it?
Demand
Surplus
Supply
Inventory
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is not having enough of something?
Opportunity cost
Supply
Demand
Scarcity
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