Quiz Week 8/9

Quiz Week 8/9

12th Grade

9 Qs

quiz-placeholder

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Quiz Week 8/9

Quiz Week 8/9

Assessment

Quiz

Social Studies

12th Grade

Easy

Created by

Christopher Yellowe

Used 2+ times

FREE Resource

9 questions

Show all answers

1.

MATCH QUESTION

1 min • 1 pt

Match the following

US money in the past. Checks=G&S

Gold Standard

US money in the past (before)

Fiat Money

Air,Shelter, Food/

a ring, Candy, Mansion

Wants/and/ Needs

Salt for Honey

Car for Spinach

Commodity Money

Current US Dollar (Bitcoin)

Representative Money

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are wants? Economics.

Needs of individuals that can be satisfied by consuming goods or services.
Goals set by individuals to achieve financial stability.
Desires of individuals that can be satisfied by consuming goods or services.
Preferences of individuals that are not related to consuming goods or services.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are needs? Economics.

Needs in economics are desires that can be satisfied through consumption.
Needs in economics are only related to physical items.
Needs in economics are not considered in economic analysis.
Needs in economics are goods or services essential for survival or well-being.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Define income. Economics.

Income is the money spent by an individual or business on various expenses.
Income is the money borrowed by an individual or business from financial institutions.
Income is the money earned by an individual or business from various sources such as wages, salaries, profits, rents, and interests.
Income is the money saved by an individual or business for future investments.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Households. Economics.

Households are a concept in biology that represent different species living together in an ecosystem.
Households are a fundamental concept in economics that represent individuals or groups of people living together, playing a key role in consumption, labor supply, and savings/investment.
Households are a term used in architecture to describe the physical structure of a building.
Households are a type of appliance used in kitchens for cooking and cleaning.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Purchasing Power. Economics.

Purchasing power is the amount of goods and services that can be purchased with a unit of currency.
Purchasing power is not affected by inflation.
Purchasing power is the same as income.
Purchasing power is the ability to buy anything without any restrictions.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Circular Flow Model. Economics.

Circular Flow Model is used in psychology
Circular Flow Model in economics shows the flow of goods, services, and money between households and firms.
Circular Flow Model represents the flow of goods only
Circular Flow Model is a recent concept in economics

8.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Benefit of Debit cards.

Convenient access to funds and secure transactions without carrying cash.

Limited acceptance at merchants and online retailers
Increased risk of fraud and identity theft
Unlimited spending limit and no need to track expenses

9.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

First step before saving is...

singing a song
checking the weather forecast
dancing in the rain

Setting a financial goal