Understanding Basic Economics Concepts

Understanding Basic Economics Concepts

4th Grade

29 Qs

quiz-placeholder

Similar activities

Economics

Economics

3rd Grade - University

25 Qs

Unit 5 - Business in the Community Review

Unit 5 - Business in the Community Review

3rd - 5th Grade

26 Qs

Economics 4th Grade

Economics 4th Grade

4th Grade

26 Qs

free enterprise, 4-13

free enterprise, 4-13

3rd - 4th Grade

24 Qs

CMC 3rd test

CMC 3rd test

2nd - 5th Grade

24 Qs

The Texas Railroad

The Texas Railroad

4th Grade - University

25 Qs

Economics Vocabulary

Economics Vocabulary

3rd - 4th Grade

25 Qs

Economics Vocab - Part 2

Economics Vocab - Part 2

4th Grade

25 Qs

Understanding Basic Economics Concepts

Understanding Basic Economics Concepts

Assessment

Quiz

Social Studies

4th Grade

Hard

Created by

LILES PULEO

Used 5+ times

FREE Resource

29 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term for the amount of a product that producers are willing and able to sell at a given price?

Demand

Supply

Scarcity

Barter

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do we call the desire and ability of consumers to purchase goods and services at different prices?

Supply

Demand

Trade

Market

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a service?

A car

A haircut

A book

A computer

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term for physical items that can be bought or sold?

Services

Goods

Resources

Choices

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT considered an economic resource?

Land

Labor

Money

Time

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term for the limited nature of society's resources?

Abundance

Scarcity

Surplus

Demand

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do we call the decision-making process of choosing between different alternatives?

Supply

Choice

Demand

Trade

Create a free account and access millions of resources

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

By signing up, you agree to our Terms of Service & Privacy Policy

Already have an account?