Economic Concepts Quiz

Economic Concepts Quiz

12th Grade

67 Qs

quiz-placeholder

Similar activities

Economics 6 Quizizz #GoWolves #DothanHigh #AlabamaCCRS #PDB

Economics 6 Quizizz #GoWolves #DothanHigh #AlabamaCCRS #PDB

12th Grade

62 Qs

Unit 2:  Branches of Govt. Amer. Govt

Unit 2: Branches of Govt. Amer. Govt

9th Grade - University

66 Qs

Unit 1: Introduction to Economics Test Review

Unit 1: Introduction to Economics Test Review

12th Grade

66 Qs

APHUG Unit 4 Political Patterns

APHUG Unit 4 Political Patterns

9th - 12th Grade

67 Qs

Chapter 6 President of US

Chapter 6 President of US

11th - 12th Grade

65 Qs

Unit 2 Cognition

Unit 2 Cognition

12th Grade

67 Qs

A Level Media Studies Theories

A Level Media Studies Theories

12th Grade

64 Qs

Economics Final Exam Review

Economics Final Exam Review

9th - 12th Grade

66 Qs

Economic Concepts Quiz

Economic Concepts Quiz

Assessment

Quiz

Social Studies

12th Grade

Medium

Created by

Morgan Tedder

Used 10+ times

FREE Resource

AI

Enhance your content in a minute

Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...

67 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What are rewards that are offered to try to get people to take certain economic actions?

Incentives

Penalties

Taxes

Subsidies

2.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

The wants and needs of people are restricted by _______________.

3.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

A clothing company manufactures 500 anniversary editions of a shirt. Since there are so few shirts to sell, what effect will this likely have on the price of the shirt?

The price will likely increase due to limited supply.

The price will likely decrease due to limited supply.

The price will remain the same regardless of supply.

The price will fluctuate randomly.

4.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Which term refers to the government-set maximum price that can be charged for goods and services?

Price Floor

Price Ceiling

Market Price

Equilibrium Price

5.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is the minimum wage?

$7.25 per hour

$10.00 per hour

$15.00 per hour

$20.00 per hour

6.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

How are prices set in a competitive market?

By government regulation

By individual sellers

By supply and demand

By consumer preferences

7.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

When a business concentrates on goods or services that it can produce better than anyone, it is using:

specialization

diversification

integration

globalization

Create a free account and access millions of resources

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

By signing up, you agree to our Terms of Service & Privacy Policy

Already have an account?