Economics
Quiz
•
Social Studies
•
3rd Grade
•
Practice Problem
•
Medium
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19 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who is a person that makes goods?
producer
consumer
distributor
retailer
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are things people like to have but do not need?
needs
wants
requirements
necessities
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a shortage or lack of supply of an item?
abundance
scarcity
surplus
excess
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Limited resources may cause ________?
abundance
scarcity
surplus
excess
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A farmer is a __________ because they grow food to sell.
consumer
distributor
producer
retailer
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are things people make?
services
goods
ideas
emotions
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the thing you have to give up in order to get your first choice?
opportunity cost
sunk cost
marginal cost
fixed cost
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