One important reason Virginia and the U.S. trade with other nations is...

Economics

Quiz
•
Social Studies
•
6th - 8th Grade
•
Medium
Kelly Wilson
Used 12+ times
FREE Resource
37 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
sell goods outlawed by U.S. consumer laws
buy things we cannot produce here
decrease the number of jobs
control the worldwide cost of goods
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The amount of goods on hand that producers can sell to consumers is known as...
supply
demand
opportunity cost
scarcity
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which economic concept is represented by the vehicle in this cartoon?
profit
incentive
trade
demand
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Only one store in Collinsvile sells a new popular toy. The store only has a few of the toy left, and they cannot get anymore. What wil probably happen?
The price of the toy will go up
the store will close
people will lose interst in the toy
No one will buy the toy
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Title?
more products = low prices
fewer products = higher prices
more demand = higher prices
less demand = lower prices
What would be the BEST title for the text?
Factors of Production
Economic Systems
Production and Distribution
Supply & Demand Determine Price
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Using goods and services is called...
consumption
production
scarcity
choice
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A person who starts a business to fulfill a need or want is called...
employee
executive
entrepreneur
boss
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