WorksheetsEconomics, 7th grade
Total questions: 10
Worksheet time: 5mins
Name
Class
Date
1.
If you buy an Xbox instead of a PlayStation, the PlayStation is the....
a)
Oppurtunity cost
b)
Product
c)
Good
d)
Service
2.
The amount of money brought in by a company compared to it's cost is the...
a)
Revenue
b)
Money
c)
Profit
d)
Economy
3.
Why do you work in a traditional economy?
a)
Profit
b)
Past beliefs
c)
Government
d)
Relaxation
4.
A phone is an example of a...
a)
good
b)
service
c)
device
d)
economic system
5.
Not having enough resources to fill your needs is
a)
limited resources
b)
productivity
c)
scarcity
d)
limitation
6.
Labor is the...
a)
work you do
b)
workers
c)
education of the workers
d)
person who you're working for
7.
what currency does the U.S use?
a)
Euro
b)
US dollar
c)
Cash money
d)
Pound
8.
What is the person who comes up with an idea for a good or service?
a)
A Creator
b)
Good
c)
Smart
d)
Entrepenuer
9.
Things like haircuts or drivers are...
a)
Services
b)
Goods
c)
Talented
d)
People
10.
Things used to produce a good or service that are not man-made
a)
Items
b)
Things
c)
Goods
d)
Natural Resources
100 %
