Economics Quiz

1. On Saturday, Sally has to choose what she will do. She can go to Jenny's birthday party or to the zoo with her Grandmother, who is visiting from New York. She really wants to go to the party, but she decides to spend time with her Grandmother because the visit is special. For Sally, the party can be called

• an opportunity cost
• an interdependent cost
• a scarcity cost
• a popularity cost

2. Which is a good? (Select 4)

• Apple
• Cellphone
• Jacket
• Table
• Lawyer

3. Like other countries, the United States creates its own money. The money that a country creates is called its currency. In the United States, the currency is called the

• franc
• pound
• euro
• US dollar

4. How do consumers interact with producers?

• Consumers buy goods and services from producers.
• Consumers invest in the products of producers.
• Consumers make the products for producers.
• Consumers sell the products of producers.

5. Which is a service? (Select 3)

• Dentist
• Nurse
• Book
• Librarian

6. Which of these is an example of a human resource?

• an aquarium
• water
• fish
• a fisherman

7. Which is a natural resource that a carpenter would need to build a cabinet?

• nails
• ruler
• hammer
• wood

8. What do these things have in common?

• They are services provided by the government
• They are services provided by mothers and fathers
• They are services provided by the police department
• They are services provided by private companies

9. Which of these is an example of a capital resource? (Select 3)

• grass
• a nail
• a carpenter
• a farmhouse
• a truck

10. Joey decided to start a hardware shop with his brother. What productive resource does this represent?

• capital
• labor
• entrepreneurship
• land