Economics Quiz

Economics Quiz

7th Grade

20 Qs

quiz-placeholder

Similar activities

Economic Systems and Voluntary Trade

Economic Systems and Voluntary Trade

7th Grade

20 Qs

Economics

Economics

11th - 12th Grade

20 Qs

Economic System

Economic System

7th Grade

20 Qs

Economic Systems

Economic Systems

9th - 12th Grade

19 Qs

Middle East Economics

Middle East Economics

7th Grade

23 Qs

SW Asia Economics Review

SW Asia Economics Review

7th Grade

15 Qs

Economic Systems

Economic Systems

6th - 8th Grade

16 Qs

7th Grade Economy-Africa-10.29 Assessment

7th Grade Economy-Africa-10.29 Assessment

7th Grade

18 Qs

Economics Quiz

Economics Quiz

Assessment

Quiz

Social Studies

7th Grade

Medium

Created by

Kaitlyn Miller

Used 2+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are capital goods?

Goods sold directly to consumers

Physical goods used to produce other goods and services

Money used to start a business

Services provided by businesses

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a cartel?

A type of government tax on goods

A group of producers that control supply and prices in a market

A law that limits production in industries

A government program that regulates trade

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an embargo?

A tax on imported goods

A government order that restricts trade with a specific country

A limit on how much of a product can be imported

A group of businesses that set prices together

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is entrepreneurship?

The study of international trade

The ability to take risks to create and run a business

A system where businesses are owned by the government

The process of selling goods to foreign markets

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a command economy, who makes the economic decisions?

Consumers and businesses

The government

Individual entrepreneurs

A group of private corporations

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

GDP (Gross Domestic Product) measures:

The number of people living in a country

The total value of all goods and services produced in a country within a year

The total amount of money spent by consumers

The total imports and exports of a country

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does it mean to specialize in an economy?

To limit production to a small amount of goods

To focus on producing a specific type of good or service efficiently

To stop trading with other countries

To increase taxes on imported goods

Create a free account and access millions of resources

Create resources
Host any resource
Get auto-graded reports
or continue with
Microsoft
Apple
Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?