The amount of a product or resource that the producer is willing and able to make.

Economics Basics

Quiz
•
Business
•
6th Grade
•
Easy
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Demand
Supply
Cost
Price
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Buying or using goods and services.
Production
Consumption
Distribution
Investment
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Resources are limited compared to people's wants and needs. Because of this, we must make choices on how to use what we have.
Scarcity
Abundance
Surplus
Wealth
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Businesses controlled by the government.
Private sector
Public sector
Non-profit sector
Cooperative sector
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A system that allows the exchange of goods and services for something of value.
Economy
Market
Barter
Trade
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Those who produce or make goods and services.
Consumers
Distributors
Producers
Retailers
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Consumers determine through their purchases what will and will not be sold in an economy.
Consumer Sovereignty
Market Control
Supply Chain Management
Economic Regulation
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