If you have masses of people with little or no money, they usually...
Economic principles

Quiz
•
Social Studies
•
8th Grade
•
Hard
Used 50+ times
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
don't buy much
have little to no power
steal from others
buy cheaper products
2.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
A rational decision-maker takes action if and only if...
they can make money
they want to
they are told to
the benefits outweigh the cost
3.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
People can't have everything they want so...
they choose carefully
they cry about it
they steal from others
they trade items
4.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Economists study situations where needs and wants exceed means. This is called...
greediness
supply and demand
scarcity
making sound investments
5.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
If you have to give up something to get something else, this is called...
trade offs
supply and demand
scarcity
incentives
6.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
In a planned economy there is little...
choice for consumers
opportunity for growth
chance to make money
wealth
7.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Trade allows...
people to choose the cheapest products
people to work
people to specialise in what they do best
returns on faulty goods
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