Economics Quiz
Authored by Craig Austin
Business
8th Grade
Used 2+ times
AI Actions
Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...
Content View
Student View
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the Law of Supply?
As price increases, quantity supplied increases.
As price decreases, quantity supplied increases.
As price increases, quantity demanded increases.
As price decreases, quantity demanded increases.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the Law of Demand?
As price increases, quantity demanded increases.
As price decreases, quantity demanded decreases.
As price increases, quantity demanded decreases.
As price decreases, quantity supplied increases.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does a Demand Curve represent?
The relationship between price and quantity supplied.
The relationship between price and quantity demanded.
The relationship between income and consumption.
The relationship between resources and goods.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does a Supply Curve represent?
The relationship between price and quantity supplied.
The relationship between price and quantity demanded.
The relationship between income and consumption.
The relationship between resources and goods.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the Circular Flow of Income Model?
A model showing the flow of money in a closed economy.
A model showing the flow of income, resources, goods, and services.
A model showing the flow of goods only.
A model showing the flow of resources only.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the components of income in the Circular Flow of Income Model?
Wages, rent, interest, profit, dividends.
Goods, services, resources, consumption.
Labor, land, capital, enterprise.
Spending, saving, investing, borrowing.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are considered resources in the Circular Flow of Income Model?
Goods and services.
Wages, rent, interest, profit.
Labor, land, capital, enterprise.
Income and consumption.
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports
Continue with Google
Continue with Email
Continue with Classlink
Continue with Clever
or continue with
Microsoft
%20(1).png)
Apple
Others
Already have an account?
