Quiz on Economic Concepts

Quiz on Economic Concepts

1st Grade

9 Qs

quiz-placeholder

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Quiz on Economic Concepts

Quiz on Economic Concepts

Assessment

Quiz

Social Studies

1st Grade

Practice Problem

Easy

Created by

Erika Laviolette

Used 68+ times

FREE Resource

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9 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an import?

something made and sold in the United States

something bought from another country

something sold to another country

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the government do in a free enterprise system?

sets up rules for economic activity

controls all economic activity

stays out of all economic activity

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is a capital resource?

lumber

an oil rig

a bricklayer

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is a producer?

a baker

a reader

a shopper

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is a consumer?

a band member performing

an athlete playing a sport

a sports fan watching a game

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is an example of scarcity?

a car dealership filled up with cars

two items on five store shelves

a bookstore with full shelves

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is a nonrenewable resource?

fish

lumber

natural gas

8.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the opportunity cost of reading a book instead of going fishing?

you will be tired after reading

you will miss out on fishing

you will have to go to library

9.

OPEN ENDED QUESTION

3 mins • 1 pt

How does the economy work?

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