Economics

Economics

8th Grade

20 Qs

quiz-placeholder

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Economics

Economics

Assessment

Quiz

History

8th Grade

Easy

Created by

Helen Benitez

Used 1+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does scarcity mean?

The inability to satisfy all wants at the same time. All resources and goods are limited.

What is given up when a choice is made (the second-best alternative)

The combining of human, natural, capital, and entrepreneurship resources to make goods or provide services

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A local shoe store had this sign in the window. This is an example of -

Incentive

Opportunity Cost

Price

Supply and Demand

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Jennifer works at the local pizza parlor. She bakes the pizza crust and slices vegetables. Jennifer is an example of ______

a human resource

a natural resource

a capital resource

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Jasmine has to decide between going to college and joining the workforce. What is the opportunity cost if she decides to go to college?

the amount of time she will have to study

the money she could have made in the workforce

the new people she will meet in college

the cost of college, books, and room and board

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which economic system is being defined as one where communities use simple tools and methods to harvest and hunt for food, often resulting in little economic growth?

Free Market

Traditional

Mixed

Command

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This type of economy has little or no involvement in the economy and is therefore just a theory.

Traitional

Command

Traditional

Free Market

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of economic system does the United States have?

Free market

Mixed

Traditional

Command

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