Intro to Economics Review

Intro to Economics Review

9th - 10th Grade

18 Qs

quiz-placeholder

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Intro to Economics Review

Intro to Economics Review

Assessment

Quiz

Social Studies

9th - 10th Grade

Practice Problem

Medium

Created by

Sarah Hartley

Used 29+ times

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18 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The study of how we make decisions in a world in which resources are limited is called...

Economics

Microeconomics

Macroeconomics

Opportunity Cost

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Mrs. Hartley planning a vacation is a...

Want

Need

Trade-Off

Opportunity Cost

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A careful record of all the money you spend and earn is a...

Expense

Want

Need

Budget

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Microeconomics is looking at the economy through the decisions of individuals.

True

False

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which formula below gives you a businesses total cost?

Fixed cost + Marginal cost

Variable cost + Total cost

Variable cost + Marginal cost

Fixed cost + Variable cost

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The money you earn is called your...

Income

Expenses

Needs

Scarcity

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

____________ occurs whenever we do not have enough resources to produce all the things we would like to have.

Economic System

Economics

Macroeconomics

Scarcity

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