Econ Vocab

Econ Vocab

6th Grade

18 Qs

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Econ Vocab

Econ Vocab

Assessment

Quiz

Social Studies

6th Grade

Medium

Created by

Abigail Evan

Used 30+ times

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18 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an opportunity cost?

The value of the next best option that is not selected when a choice is made.

There is not enough of it.

Things people make to earn money

Actions people do to earn money.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Resources such as tools, machinery, and money used in the production process -

Human

Land

Capital

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Jason has been asked by his son to go ride 4-wheelers this weekend. His boss has asked him to work overtime and get paid double. Jason chooses to go ride 4-wheelers with his son. What is his opportunity cost?

ride 4- wheelers

work overtime for his boss

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Going to a doctor for a physical is

A good

A service

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is economics?
The study of money
The study of how people choose to use limited resources
The study of governments and citizens
The study of the past

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is a characteristic of a scarce resource?
Scarce resources must be expensive
Scarce resources must be unlimited in quantity
Scarce resources must have only one use
Scarce resources must be desireable

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is NOT one of the three questions of economics?
What to produce?
How to produce?
For whom to produce?
When to produce?

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