Economics Quiz

Economics Quiz

3rd - 4th Grade

20 Qs

quiz-placeholder

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Assessment

Quiz

History

3rd - 4th Grade

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Used 14+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image
Summer is upon us, and people begin purchasing bathing suits in large numbers. What causes this change?
Change in income
Prices or availability of substitutes
Change in the weather or season
Change in the number of buyers

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image
Thousands of people leave a small town due to a factory closing down.  Sales at the local grocery store become slow. What causes this change?
Prices or availability of substitutes
Prices or availability of complementary goods
Change in the weather or season
Change in the number of buyers

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image
iTunes increases the price of all of its digital downloadable music to $6 per song. What causes this change?
Prices or availability of substitutes
Prices or availability of complementary goods
Change in the weather or season
Change in the number of buyers

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image
If bad weather destroys much of the wheat crop, then
the price effect will cause growers to sell less wheat at lower prices.
growers will offer less wheat at each and every price.
no wheat products will be produced that year.
none of the above.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image
When the supply of a product or service goes up and the demand stays the same the Price will typically do what? 
rise
fall
stay the same
Consumer

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image
a person or company that makes, grows, or supplies goods to sell is called the?
damand
price
producer
shortage

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image
The desire or willingness a consumer has to purchase a good or a service is called?
shortage
supply
price
demand

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