Economic Principles - Economics Activities, Supply and Demand

Economic Principles - Economics Activities, Supply and Demand

9th Grade

10 Qs

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Economic Principles - Economics Activities, Supply and Demand

Economic Principles - Economics Activities, Supply and Demand

Assessment

Quiz

Business

9th Grade

Practice Problem

Hard

Created by

Alicia Delande

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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a human resource?

Employees

Machinery

Buildings

Vehicles

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Purchasing a new phone may make it easier to get in touch with friends and family, but it could be much more expensive than your current phone. How would you decide on buying a new phone?

Consider the trade offs and opportunity cost

Ignore the price and buy the latest model

Stick with the current phone

Ask friends for their opinions

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economics is the study of how people use resources to:

Maximize wealth

Satisfy unlimited wants

Buying and selling resources

Increase production

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Distinguish between economic and noneconomic wants.

Economic wants are desires for goods and services that can be satisfied by purchasing them, while noneconomic wants are desires that cannot be satisfied with money.

Economic wants are desires for goods and services that cannot be satisfied by purchasing them, while noneconomic wants are desires that can be satisfied with money.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Identify the three categories of resources.

Natural resources, human resources, and capital resources

Physical resources, digital resources, and financial resources

Renewable resources, non-renewable resources, and perpetual resources

Tangible resources, intangible resources, and human resources

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is scarcity?

A situation where resources are limited

An abundance of resources

A type of economic surplus

A financial term for profit

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Discuss the role of trade-offs in economic decision-making.

Trade-offs are not important in economic decision-making.

Trade-offs involve choosing between different options.

Trade-offs are only considered in large-scale economic policies.

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