The making, buying and selling of goods and services
FBLA Economics

Quiz
•
Social Studies
•
6th Grade
•
Hard
John Robinson
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
economics
inflation
market
barter
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The study of resources such as money, materials, and labor
economics
services
producers
goods
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The resources required to make a product (good or service)
economics
consumption
four factors of production
scarcity
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A general increase in prices
price
inflation
scarcity
demand
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The idea that resources are limited; we don't have an unlimited supply of what we want
scarcity
supply
demand
inflation
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which type of economy is run by the businesses & business owners?
Command
Mixed
Communist
Market
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The concept of opportunity cost is best described as
A) The cost of the next best alternative foregone
B) The total cost of all alternatives
C) The cost of production
D) The cost of goods sold
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