Intro to Economics Review
9th - 10th Grade
•18 Qs
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Intro to Economics Review
Quiz
•
Social Studies
•
9th - 10th Grade
•
Practice Problem
•
Medium
Sarah Hartley
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18 questions
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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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