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Economics and Competition Quiz

Authored by Latanya Lawrence

Other

9th - 12th Grade

Used 1+ times

Economics and Competition Quiz
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economics is the study of how people use limited resources to satisfy _____ wants.

Study of how to make money

Study of production and engineering

Study of how people use limited resources to satisfy unlimited wants

Study of business ownership

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

_____ is an economic decision made by individuals.

Setting tax policy

Choosing what to buy with a paycheck

Regulating interest rates

Running a factory

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Production refers to: _____

Buying goods

Using goods to meet needs

Making goods or services

Trading goods

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The act of using goods and services is called _____ .

Production

Exchange

Consumption

Distribution

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In economics, distribution means _____.

Buying goods from stores

Making goods in factories

Delivering goods to consumers

Exchanging money for services

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

_____ is an example of exchange.

Driving a truck

Trading a video game for a pair of headphones

Manufacturing a car

Recycling plastic

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

_____ is a natural resource.

A robot

A delivery truck

A tree

A manager

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