Economics Quiz

Economics Quiz

10th Grade

15 Qs

quiz-placeholder

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Economics Quiz

Economics Quiz

Assessment

Quiz

Business

10th Grade

Medium

Created by

Sydney Smith

Used 15+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Difference between the revenues earned by a business and the cost of operating the business.

Profit

Supply

Demand

Opportunity Cost

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The quantity of a good or service that consumers are willing to buy at a given price.

Demand

Supply

Profit

Needs

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The quantity of a good or service a producer is willing to produce at different prices.

Supply

Demand

Profit

Wants

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Value of the next-best alternative.

Opportunity Cost

Profit

Demand

Needs

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which term refers to the resources used to produce goods and services?

Economic Resources

Profit

Wants

Opportunity Cost

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term for the amount of a product that producers are willing to sell at various prices?

Supply

Demand

Profit

Needs

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term for the amount of a product that consumers are willing to purchase at various prices?

Demand

Supply

Profit

Wants

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