Economics Basics

Economics Basics

6th Grade

20 Qs

quiz-placeholder

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Economics Basics

Economics Basics

Assessment

Quiz

Business

6th Grade

Easy

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

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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