Economics Quiz (Scarcity, Supply/Demand, Opportunity Cost)
Authored by Rachel Branch
Financial Education
4th Grade
Used 7+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Yesterday I went out to eat with my family. We were starving! We had to wait a long time before eating our food because there were not enough waiters working at the restaurant. What was scarce?
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
My grandmother gave me $10.00 for my birthday. I want to use this money to buy a ticket to the movies, but I also want to buy a new toy. I decide to use the money to buy a new toy. What is my opportunity cost?
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is supply?
4.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Select ALL of the ways that businesses could persuade customers to come to their store. There can be more than one correct answer.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The new school year is about to begin and many students are in need of markers and crayons. School starts in one week and many of the supplies have sold out. Which correctly describes the supply and demand of the markers and crayons?
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The new school year is about to begin and many students are in need of markers and crayons. School starts in one week and many of the supplies have sold out. How will this affect the price of the markers and crayons?
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is competition?
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