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Duplicate of 8th Grade Economics Flashcards | StudBud
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Duplicate of 8th Grade Economics
Duplicate of 8th Grade Economics
17 terms
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StudBud Administration
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8 plays
#economics #resources #8thgrade
Flashcards
17 cards
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Practice quiz
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Questions
17
Answers
1
Teacher is an example of which type of resource?
natural
human
Tobias thinks you will get an A on this quiz.
capital
2
Which type of economy would you find in a communist government?
Mixed Economy
Command Economy
Free Market Economy
Traditional Economy
3
Who is a competitor of McDonald's?
Kohl's
Friday's
Applebee's
Burger King
4
Scarcity means __________________.
none of the above
limited supply, not enough
high prices
too many goods and services
5
This sales advertisement may change your behavior. Therefore it is an example of an _________.
opportunity cost
scarcity
production
incentive
6
What is a basic economic question that all economic systems answer?
For whom will it be produced?
What will be produced?
All of the above
Who will produce it?
7
In which economic system would the government own businesses, land, and resources?
Command Economy
Free Market Economy
Traditional Economy
Traditional Economy
8
The United States is which economic system?
Command Economy
Mixed Economy
Free Market Economy
Traditional Economy
9
Computer is which type of resource?
human
capital
This isn't the answer.
natural
10
What is economics?
the study of the past and how that influences our lives
the study of Earth's land and how that impacts our life
the study of politics
the study of money, resources, and choices
11
What is the main basic economic problem?
government
time
money
scarcity
12
In which economy do people make decisions based on historical patterns?
Mixed Economy
Traditional Economy
Command Economy
Free Market Economy
13
In which economy would consumers have choice and business owners own private property?
Free Market Economy
Command Economy
Mixed Economy
Traditional Economy
14
Water and wind are examples of which type of resource?
natural
capital
human
I'm tired
15
__________consists of earnings after all expenses have been paid.
production
profit
Takis
incentive
16
If I choose Pringles over Takis, Takis would be the _____________________.
incentive
consumer
production
opportunity cost
17
Which is NOT a type of economic system?
Free Market Economy
Mixed Economy
Booming Economy
Command Economy