Quizalize logo
placeholder image to represent content

Macroeconomics Unit 1 Basic Economics Concepts Pt 1

Quiz by Mark Stegall

Feel free to use or edit a copy

includes Teacher and Student dashboards

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

Our brand new solo games combine with your quiz, on the same screen

Correct quiz answers unlock more play!

New Quizalize solo game modes
14 questions
Show answers
  • Q1
    It is the condition that exists when there are not enough resources to satisfy all of the competing uses.
    Scarcity
    Panic
    Deficit
    Loss
    30s
  • Q2
    They are items people purchase to satisfy their needs and wants, such as food, shelter, and clothing
    Consumer markets
    Capital Goods
    Opportunity costs
    Consumer Goods
    30s
  • Q3
    As a result of scarcity, you are forced to make ________________, which occur when you give up something to gain something else
    sacrifices
    trade-offs
    transfers
    opportunity costs
    30s
  • Q4
    The value of the next best alternative other than the choice that was made.
    trade-offs
    sacrificial price
    transfer costs
    opportunity costs
    30s
  • Q5
    Which point on the graph represents Unemployment/Inefficiency?
    Question Image
    A
    F
    D
    E
    30s
  • Q6
    Considering current conditions, what point on the graph represents an impossible output.
    Question Image
    F
    A
    E
    B
    30s
  • Q7
    On the graph, what represents an efficient output?
    Question Image
    A, B C, D
    B and E
    G, E, C
    Only D and C
    30s
  • Q8
    According to the chart, what is the opportunity cost to move from point A to point B?
    Question Image
    3 hats
    5 shoes
    1 shoes
    0 hats
    30s
  • Q9
    According to the chart, what is the opportunity cost to move from point E to point D?
    Question Image
    29 shoes
    2 hats
    15 shoes
    1 hat
    30s
  • Q10
    According to the chart, what is the opportunity cost to move from point C to point A?
    0 shoes
    0 hats
    29 shoes
    2 hats
    30s
  • Q11
    Government ownership and allocation of resources best represents a
    Mixed Economy
    command economy
    World Economy
    Free-Market economy
    30s
  • Q12
    An economic system in which two parties exchange goods or services. In the end, both parties benefit.
    Centrally Planned Econmy
    Mixed Economy
    Global Economy
    Free-Market Economy
    30s
  • Q13
    Which question is FALSE concerning the 3 basic economic questions
    How much should I charge for my product?
    What should I produce
    Who will buy the goods or services?
    How much should I produce
    30s
  • Q14
    Which is NOT included in one of the 4 factors of production
    Entrepreneurship
    Labor
    Land
    Transportation
    30s

Teachers give this quiz to your class