Economics Quiz
Authored by Linda Neese
Social Studies
3rd Grade
Used 6+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is scarcity?
When resources are unlimited and the need for a good or service is higher for a society than what is produced
When resources are limited and the need for a good or service is higher for a society than what is produced
When resources are unlimited and the need for a good or service is equal to what is produced
When resources are limited and the need for a good or service is equal to what is produced
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is demand?
The amount of a good or service that consumers are unwilling and unable to buy at a given price at a given time
The amount of a good or service that consumers are willing and able to buy at a given price at a given time
The amount of a good or service that producers are willing and able to sell at a given price at a given time
The amount of a good or service that producers are unwilling and unable to sell at a given price at a given time
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does export mean?
To send goods out to another country
To bring goods into one country from another
To take part in the exchange of goods
To produce goods based on consumer demand
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does import mean?
To send goods out to another country
To bring goods into one country from another
To take part in the exchange of goods
To produce goods based on consumer demand
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does trade mean?
To send goods out to another country
To bring goods into one country from another
To take part in the exchange of goods
To produce goods based on consumer demand
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are some things paid for by taxpayers?
Airplanes, hospitals, shopping malls, houses
School bus, roads, stop signs, school buildings
Computers, restaurants, parks, movie theaters
Bicycles, swimming pools, libraries, stadiums
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why do governments collect taxes from people?
To provide goods and services for the public
To reduce the income of citizens
To discourage economic growth
To increase the cost of living
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