Economics Introduction

Economics Introduction

9th - 12th Grade

20 Qs

quiz-placeholder

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Economics Introduction

Economics Introduction

Assessment

Quiz

9th - 12th Grade

Medium

Created by

Sean Higgins

Used 1K+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

The amount of a good or service that is wanted is called:
supply
demand
equilibrium
inflation

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount of a good or service provided is called:
supply
demand
equilibrium
inflation

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The total value of goods and services produced within the a country during one year.

Gross Domestic Product (GDP)

Gross National Income (GNI)

Gross Food Cafeteria (GFC)

Human Consumption Chart (HCC)

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

There are 4 _______________. They are land, labor, capital and entrepreneurship.

Factors of Production

Market Economy

Profit

Economics

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Tools used by people at work like assembly lines, or a hammer, or a ladder are called _______________.

Labor

Capital

Revenue

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The study of how people seek ways to meet their wants and needs by making choices is called?

Economics

Philosophy

Capitalism

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The four factors of production.

Machines, Money, Oil, Plastic

money, big cars, money, diamond rings

Natural Resources, Labor, Capital, Entrepreneurship

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