Virtual Learning Day 4

Virtual Learning Day 4

7th Grade

10 Qs

quiz-placeholder

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Virtual Learning Day 4

Virtual Learning Day 4

Assessment

Quiz

Social Studies

7th Grade

Practice Problem

Hard

Created by

Kristen Balser

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is scarcity in economic terms?

Having unlimited resources

The inability to satisfy all wants at the same time

Having enough money to buy everything

The ability to produce unlimited goods

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT one of the four main types of economic resources?

Natural resources

Money

Human resources

Capital resources

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When making an economic choice, what is opportunity cost?

The monetary cost of an item

The total cost of all options combined

The best available option

What is given up when a choice is made

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What factors determine what goods are produced in an economy?

Available resources and consumer preferences

Only government decisions

Only available technology

Only market prices

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is consumption in economic terms?

Only buying food products

The process of making goods

The using of goods and services

Selling products to others

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why must individuals make choices about goods and services?

Because they have unlimited money

Because prices keep changing

Because goods and services are limited

Because stores have too many options

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is production in economics?

Only making physical goods

Combining resources to make goods or provide services

Only providing services

Selling products in stores

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