EMS (Assignment 6 - Economic desisions)

EMS (Assignment 6 - Economic desisions)

8th Grade

10 Qs

quiz-placeholder

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EMS (Assignment 6 - Economic desisions)

EMS (Assignment 6 - Economic desisions)

Assessment

Quiz

Business

8th Grade

Hard

Created by

Olivia Salzwedel

Used 1+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Define cost

It is what you lose or sacrifice to get something else.

 
         
It is the next best alternative or real cost given up by choosing another item
or the next best alternatives foregone


 The action of sharing something out among a number of recipients.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Define consumption

The action of making or manufacturing from components or raw materials.

Using, buying or eating something

The action of sharing something out among a number of recipients.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Define distribution

The action of sharing something out among a number of recipients.

The action of making or manufacturing from components or raw materials.

 
         
It is the next best alternative or real cost given up by choosing another item
or the next best alternatives foregone.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The fundamental economic problem is ....

production

living expenses

scarcity

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Define opportunity cost


         
It is the next best alternative or real cost given up by choosing another item
or the next best alternatives foregone.


 The action of sharing something out among a number of recipients.

It is what you lose or sacrifice to get something else

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the three main kinds of decisions?

Consumption, distribution, opportunity cost

Distribution, consumption, production

distribution, production, cost

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Define production

Using, buying or eating something.

The action of sharing something out among a number of recipients.

The action of making or manufacturing from components or raw materials.

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