Economics and Decision-Making Worksheet
Authored by Nikki Peer
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9th Grade
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of the PACED decision-making model?
To choose which pet to adopt
To make important decisions in a thoughtful way
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does PACED stand for?
Problem, Ask Questions, Cost, Evaluate, Decision
Problem, Alternatives, Criteria, Evaluate, Decision
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Competition in a market economy:
Creates monopolies.
Regulates economic activity.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the "invisible hand" do in a market economy?
Reduces competition among firms
Guides resources to their most valued use
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The scarcity problem exists because
Resources are too expensive
People have unlimited wants
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a market economy, who owns most of the resources and makes decisions about how they are used?
Individuals
Government
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What market force is the “motivator” of economic activity?
Government
Self-interest
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