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Economics Review Game

Quiz by Christie Briley

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26 questions
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  • Q1

    What is economics?

    It's how people spend money and make money.

    It's about books.

    It's about science.

    300s
  • Q2

    Something that is scarce is in low supply.

    true
    false
    True or False
    300s
  • Q3

    An item that is in high demand but is in low supply may be 

    A normal price

    A lower price

    A higher price

    300s
  • Q4

    Something that is in high demand may be scarce. 

    true
    false
    True or False
    300s
  • Q5

    Vocabulary: Many people wanting a certain item at the same time.

    Supply

    Loan

    Demand

    Scarce

    300s
  • Q6

    When the supply of a product decreases, the price goes up.

    true
    false
    True or False
    300s
  • Q7

    A bank is where you store money.

    true
    false
    True or False
    300s
  • Q8

    Interest is money the bank gives you that you have to pay back.

    false
    true
    True or False
    300s
  • Q9

    Does consumer choice influence economics (supply and demand)?

    true
    false
    True or False
    300s
  • Q10

    A store has workers restocking shelves and helping customers. What is this called?

    Producers

    Consumers

    Division of labor

    Demand

    300s
  • Q11

    Someone who specializes does

    Does a little bit of everything not very well

    one task or skill really, really well

    300s
  • Q12

    What is choice?

    When you pick between two or more products.

    A item that is scarce.

    Something that people are fighting over.

    300s
  • Q13

    I am a teacher who teaches ONLY teaches Social Studies. Does that mean I specialize in Social Studies?

    true
    false
    True or False
    300s
  • Q14

    Pepperidge Farms makes Goldfish crackers. They are

    producers

    consumers

    300s
  • Q15

    Our lemonade stand produced what product?

    lemonade 

    ice cream

    cookies

    Oreos

    300s

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