Economics Quiz

What is the study of how people, businesses, and governments make choices about using resources like money, time, and materials?

• Economy

• Economics

• Business

• Manufacturing

Who is a person that studies economics and tries to understand how economies work?

• Consumer

• Economist

• Producer

• Manufacturer

What do you call someone who buys or uses goods and services?

• Producer

• Manufacturer

• Consumer

• Economist

What is an organization that provides goods or services to make money?

• Business

• Consumer

• Service

• Need

What is something that is essential for survival, like food, water, and shelter?

• Want

• Need

• Good

• Service

What is an action or activity that one person does for another, like teaching or fixing a car?

• Good

• Service

• Need

• Want

What is the name of a person who tries to understand how people make decisions about resources?

• Producer

• Economist

• Consumer

• Manufacturer

What is the term for a person or company that provides goods and services?

• Consumer

• Producer

• Business

• Economist

What is the term for an organization that aims to make money by providing goods or services?

• Manufacturer

• Business

• Economy

• Service

What is scarcity?

• The amount of a good or service available

• When there isn’t enough of something to meet people’s wants or needs

• How much people want a good or service

• A person who starts a business