Economics and Business Concepts Quiz

Economics and Business Concepts Quiz

8th Grade

40 Qs

quiz-placeholder

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Economics and Business Concepts Quiz

Economics and Business Concepts Quiz

Assessment

Quiz

Social Studies

8th Grade

Practice Problem

Hard

Created by

SIENNA C

Used 1+ times

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40 questions

Show all answers

1.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

What is the word that refers to the idea that we are unable to satisfy all of our wants and needs because resources and goods are limited?

2.

OPEN ENDED QUESTION

3 mins • 1 pt

What are the 4 basic questions that must be answered in all economic systems?

Evaluate responses using AI:

OFF

3.

OPEN ENDED QUESTION

3 mins • 1 pt

What is an incentive?

Evaluate responses using AI:

OFF

4.

OPEN ENDED QUESTION

3 mins • 1 pt

Someone opens a booth at a flea market. What factor of production does this represent?

Evaluate responses using AI:

OFF

5.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

What type of economic system do most countries today have?

6.

OPEN ENDED QUESTION

3 mins • 1 pt

In that economic system, who makes decisions in the private sector?

Evaluate responses using AI:

OFF

7.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

In that economic system, who makes decisions in the public sector?

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