Southeast Asia End of Unit - Economies

Southeast Asia End of Unit - Economies

7th Grade

30 Qs

quiz-placeholder

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Southeast Asia End of Unit - Economies

Southeast Asia End of Unit - Economies

Assessment

Quiz

Financial Education

7th Grade

Easy

Created by

Jesica Harrington

Used 10+ times

FREE Resource

30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a "service" in the context of economics?

a natural resource
a type of software
a physical product that can be stored and used
an action that cannot be held or touched

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What drives economic choices and decisions in society?
an unlimited supply of natural resources
technological advancements
communist governments
scarcity of resources and unlimited wants

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does scarcity mean in economics?
A situation where resources exceed wants and needs
The abundance of resources available in nature
Having a limited supply of resources to meet unlimited wants and needs

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are considered resources in economics?
capital, machines, and labor
people's wants and needs
Only natural resources like water and minerals
Only human resources and intellectual property

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does economics primarily study?
The study of geographical features and their influence on culture
The study of historical events and their impact on society
The study of political systems and governance
The study of the choices people make to satisfy their wants and needs with limited resources

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best describes the role of supply and demand in a market economy?
It determines the literacy rate of the country
It influences prices of goods and services
It does not impact the economy

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

"Regulation" in economics means...
How hard people work in an economy
How hard it is to get materials for a business
The amount of government control in an economy

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