What are the two main concepts economics studies?

Exploring Opportunity Cost and Scarcity in Economics

Interactive Video
•
Social Studies
•
6th - 10th Grade
•
Medium

Aiden Montgomery
Used 22+ times
FREE Resource
Read more
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Capital and labor
Profit and loss
Scarcity and choice
Supply and demand
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for the insatiable human desire for more?
Need gap
Want hole
Desire pit
Greed void
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does scarcity force us to do?
Increase production
Make choices
Ignore wants
Create more resources
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What analogy is used to describe human desires?
Bottomless pit
Infinite void
Endless ocean
Want hole
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which economy spreads decisions among many choosers?
Command economy
Market economy
Mixed economy
Traditional economy
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does a command economy rely on for decision-making?
Centralized authority
Consumer choice
Market forces
Competition
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the four types of resources mentioned?
Technology, information, networks, skills
Water, air, soil, minerals
Money, stocks, bonds, real estate
Land, labor, capital, entrepreneurship
Create a free account and access millions of resources
Similar Resources on Wayground
9 questions
Free Market vs Command Economy Concepts

Interactive video
•
9th - 10th Grade
11 questions
Exploring Global Economic Systems

Interactive video
•
6th - 10th Grade
8 questions
The Transcontinental Railroad Explained: US History Review

Interactive video
•
6th - 12th Grade
8 questions
India Will Not Be The Next China: What Could Go Wrong?

Interactive video
•
7th - 12th Grade
11 questions
What Can We Learn from the Richest Country in the World?

Interactive video
•
7th - 12th Grade
3 questions
Black Market Economics - What Drives the Underground Economy?: Why So Important

Interactive video
•
7th - 12th Grade
11 questions
Economic Systems and Production Techniques

Interactive video
•
9th - 10th Grade
6 questions
CLEAN : New Zealand's Peters backs Labour newcomer Ardern as PM

Interactive video
•
9th - 10th Grade
Popular Resources on Wayground
25 questions
Equations of Circles

Quiz
•
10th - 11th Grade
30 questions
Week 5 Memory Builder 1 (Multiplication and Division Facts)

Quiz
•
9th Grade
33 questions
Unit 3 Summative - Summer School: Immune System

Quiz
•
10th Grade
10 questions
Writing and Identifying Ratios Practice

Quiz
•
5th - 6th Grade
36 questions
Prime and Composite Numbers

Quiz
•
5th Grade
14 questions
Exterior and Interior angles of Polygons

Quiz
•
8th Grade
37 questions
Camp Re-cap Week 1 (no regression)

Quiz
•
9th - 12th Grade
46 questions
Biology Semester 1 Review

Quiz
•
10th Grade
Discover more resources for Social Studies
25 questions
Equations of Circles

Quiz
•
10th - 11th Grade
30 questions
Week 5 Memory Builder 1 (Multiplication and Division Facts)

Quiz
•
9th Grade
33 questions
Unit 3 Summative - Summer School: Immune System

Quiz
•
10th Grade
10 questions
Writing and Identifying Ratios Practice

Quiz
•
5th - 6th Grade
14 questions
Exterior and Interior angles of Polygons

Quiz
•
8th Grade
37 questions
Camp Re-cap Week 1 (no regression)

Quiz
•
9th - 12th Grade
46 questions
Biology Semester 1 Review

Quiz
•
10th Grade