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Social Studies

6th - 8th Grade

Used 2+ times

Understanding the Business Cycle
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12 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What is the business cycle?

A chart that shows how prices rise

A pattern of the economy growing and slowing down

A list of all businesses in a country

the amount of people not working

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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When the economy is growing and doing well, this stage of the business cycle is called:

Contraction

Expansion

Unemployment

Depression

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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What happens during a recession?

People spend more money

Businesses hire more workers

The economy slows down and unemployment increases

Everything costs more money

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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What does GDP measure?

How many stores a country has

the total value of all final goods and services produced within a country in a year

How many people lose their jobs

The number of all things made in a country

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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If a country's GDP is rising, it usually means:

The economy is getting stronger

People are losing jobs

Businesses are closing

People are struggling

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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Unemployment means:

People don't want to work

Everyone is working 2 jobs

People that want a job cannot find one

Companies are paying less

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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High unemployment usually means:

The economy is doing very well

Lots of people are flying to a vacation spot

Many people cannot find work

People are making big purchases

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