Economics 101
Quiz by Deana Gray
Feel free to use or edit a copy
includes Teacher and Student dashboards
Measure skillsfrom any curriculum
Measure skills
from any curriculum
Tag the questions with any skills you have. Your dashboard will track each student's mastery of each skill.
With a free account, teachers can
- edit the questions
- save a copy for later
- start a class game
- automatically assign follow-up activities based on students’ scores
- assign as homework
- share a link with colleagues
- print as a bubble sheet
25 questions
Show answers
- Q1The study of how individuals and society choose to deal with scarcity.Economics30s
- Q2The state in which all resources are limited.Scarcity30s
- Q3All things that are needed to make what people need and want.Factors of Production30s
- Q4Refers to natural resources, which are limited- that is, there is not an unending supply of them.Land30s
- Q5Includes all people who are needed to make items or provide services.Labor30s
- Q6Refers to the tools, equipment, machinery, and factories used to make goods and services.Capital30s
- Q7Individuals who start new businesses or bring new products to the market.Entrepreneur30s
- Q8The cost of the next best alternative use of money, time, or resources when one choice is made rather than another.Opportunity Cost30s
- Q9Alternative choices.Trade-Offs30s
- Q10The ability of one person, business, or nation to produce a good or provide a service relatively more efficiently (or at a lower opportunity costs) than another person, business, or nation.Comparative Advantage30s
- Q11Any substance that serves as a medium of exchange, a measure of value, and a store of value.Money30s
- Q12The price paid for the use of another's money.Interest30s
- Q13A safe place for people to store their money and wealth.Bank30s
- Q14An individual who owes a sum of money to an institution.Debtor30s
- Q15An individual or institution that lends out money and therefore is owed money.Creditor30s