Putting it into practice: Economics 1

Putting it into practice: Economics 1

6th - 8th Grade

37 Qs

quiz-placeholder

Similar activities

Civics Chapters 13-14

Civics Chapters 13-14

8th Grade

33 Qs

CE.11 Economic Concepts

CE.11 Economic Concepts

8th Grade

35 Qs

SW Asia Economics-SS7E5 Quiz

SW Asia Economics-SS7E5 Quiz

7th - 8th Grade

35 Qs

Supply and Demand 2023-24

Supply and Demand 2023-24

6th Grade

35 Qs

Government and Market Icivcs

Government and Market Icivcs

6th - 8th Grade

40 Qs

Unit 8 | WMS | Economics

Unit 8 | WMS | Economics

7th Grade

36 Qs

Economics test review 2023

Economics test review 2023

6th Grade

36 Qs

Econ12 Midterm Review

Econ12 Midterm Review

8th Grade

42 Qs

Putting it into practice: Economics 1

Putting it into practice: Economics 1

Assessment

Quiz

Social Studies

6th - 8th Grade

Medium

Created by

lorelei huang

Used 5+ times

FREE Resource

37 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is the main idea behind a free market economy

Allows individuals to make choices about how to use resources to satisfy their needs

Companies can create markets to have control over consumers

Allows the government to oversea the economic state and protect the people from illegal trades

Producers have the freedom to set prices and make consumers buy them at the price

2.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Media Image

What does this diagram represent?

Law of supply

Law of demand

supply and demand

the stock market

3.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Media Image

What does this diagram represent?

Law of supply

Law of demand

supply and demand

the stock market

4.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

If the equilibrium is $9.99 at what price will a shortage occur

$9.99

1.99

13.00

10.00

5.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

If the equilibrium is $14.99 at what price will a surplus occur

9.99

8.99

26.00

14.99

6.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Mr. Rush goes to Starbucks and notices that the price of coffee has been raised by $2.00 because of the price he decides he no longer wants Starbucks. What item is best described in this scenario?

Law of supply

Elastic demand

Limited Liability

Collective bargaining

Price volatility

7.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Formed in the 1800's, workers created an association for the purpose of improving their economic status and working conditions

Communism

Labor Unions

Collective bargaining

Trust

Create a free account and access millions of resources

Create resources
Host any resource
Get auto-graded reports
or continue with
Microsoft
Apple
Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?