Community and Economy Assessment

Community and Economy Assessment

5th Grade

10 Qs

quiz-placeholder

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Community and Economy Assessment

Community and Economy Assessment

Assessment

Quiz

Social Studies

5th Grade

Hard

Created by

Elizabeth Bower

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which best describes the circular flow of an economy?

a model of the movement of goods, services, resources and money in an economy

the people and things needed to produce goods and services

work produced by human resources

a model or sample of a product to be produced

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A good produced and offered for sale

resource

product

labor

service

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who pays for private goods and services?

philanthists

government

people who use them

taxpayers

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount of money left after all business expenses have been paid.

prototype

profit

product

scarcity

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Due to scarcity, people cannot have all of the things they want.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A free enterprise economy is a system in which economic decisions are made in markets by consumers and businesses with little government influence.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Payments that citizens and businesses are required to make to a government to pay for public goods and services are called gross pay.

True

False

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