Economics

Economics

6th - 8th Grade

37 Qs

quiz-placeholder

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Economics

Economics

Assessment

Quiz

Social Studies

6th - 8th Grade

Medium

Created by

Kelly Wilson

Used 12+ times

FREE Resource

37 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

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

Media Image

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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