Intro to Economics and distributing resources
1st - 3rd Grade
•22 Qs
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Intro to Economics and distributing resources
Quiz
•
Business
•
1st - 3rd Grade
•
Hard
Conal Cuttle
Used 6+ times
FREE Resource
22 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
is the study of how individuals, organisations and governments make choices about how to allocate limited resources
Economics
The Economy
Economic system
Economic resources
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The cost of the option forgone
Opportunity cost
Financial cost
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The cost in money terms
Opportunity cost
Financial cost
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is the basic economic problem?
our needs and wants are unlimited but resources are limited
our needs and wants are limited but resources are unlimited
our resources are unlimited but needs and wants are limited
our resources are limited but needs and wants are unlimited
5.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Tick the examples of needs
Latest phone
Holiday
Food
Housing
Clothes
6.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Tick the examples of wants
Latest phone
Holiday
Food
Housing
Clothes
7.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
The economic resources necessary to produce goods and services can be divided into four categories known as the Factors of Production:
Land
Labour
Capital
Enterprise
Interest
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