Economics

Economics

5th - 8th Grade

42 Qs

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Assessment

Quiz

Other

5th - 8th Grade

Medium

Created by

MELISSA DYER

Used 2+ times

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42 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which scenario would increase the supply of hula hoops and therefore decrease their price?

Can't turn off the assembly line
Can't turn on the assembly line
Kids are buying jump ropes instead of hula hoops
Kids are buying hula hoops instead of jump ropes

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which situation would increase the demand for sweatshirts and therefore increase the price?

June is surprisingly cold
June is surprisingly warm
Worldwide cotton shortage
Wal-Mart ordered too many sweatshirts

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which situation would result in a decrease in both the demand for and the price of iPads?

Sony releases a cheaper version of it called the sPad
there is a fire at an Apple factory
Apple offers a 50% off sale on iPads
Apple builds a new factory for making only iPads

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which situation will decrease the supply of beach chairs therefore increasing the price?

Shortage of the metal used in their frames
Surplus of the fabric used in the seat
Beaches close due to shark attacks
Summer months are warmer than usual

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This is the system that the majority of the world uses, including the USA.

market
command
traditional

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which are 2 things that households provide for businesses in the economic cycle?

land and labor
goods and services
taxes and military protection

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these is NOT an institution that is included in the economic cycle?

businesses
households
government
foreign countries

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