Allocation of goods and services

Allocation of goods and services

2nd Grade

20 Qs

quiz-placeholder

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Allocation of goods and services

Allocation of goods and services

Assessment

Quiz

Social Studies

2nd Grade

Medium

Used 112+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

A service is .....

something someone does for you.

something someone makes.

something someone creates.

something you find in a store.

2.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

A good is......

something you buy.

something you need or want.

something you use or consume.

All of the above

3.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

When goods or services are hard to get or find, we say they are......

easy.

scarce.

empty.

plentiful.

4.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

When goods, services or resources are scarce, sometimes the cost of that good or service goes up and it becomes expensive. We call this allocation by ....

lottery.

sharing.

price.

contest.

5.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

When goods, services or resources are scarce, decisions have to be made about who will have them first. We call this process.......

allocation.

consumers.

producers.

economics.

6.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Sometimes when goods, services or resources are scarce, the first people who come to get them, are the first to receive them. We call this.....

a contest

a lottery.

first come, first served.

drawing a name out of a hat.

7.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Sometimes when goods or services are scare people divide things out so that everyone who wants or needs it gets a little bit. We call this method of allocation......

personal characteristics.

a contest.

first come, first served.

sharing.

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