Economics And Money With Bobo

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Economics Quizzes & Trivia

This quiz is to test your knowledge on economics and money. Answer the questions carefully. Have fun!

Questions and Answers
  • 1. 

    Economics is the study of?  

    • A.

      How something is built

    • B.

      How a society uses its resources to satisfy its wants and needs

    • C.

      How to obtain a job

    • D.

      How to use money

    • E.

      The economy

    Correct Answer
    B. How a society uses its resources to satisfy its wants and needs
  • 2. 

    Identify three ways to view economics

    • A.

      Your family working together around the house to complete tasks

    • B.

      Lawmakers make decisions on how to spend government money

    • C.

      Some managers of a large business making decisions on producing a new product

    • D.

      Toy factory speeding up production in the warehouse

    • E.

      When you raise your hand to ask to use the bathroom in class

    Correct Answer(s)
    A. Your family working together around the house to complete tasks
    B. Lawmakers make decisions on how to spend government money
    C. Some managers of a large business making decisions on producing a new product
  • 3. 

    Scarcity is

    Correct Answer(s)
    all resources are limited and therefore scarce
    not enough things to go around
  • 4. 

    A consumer is

    • A.

      A person who saves money

    • B.

      A person who buys and uses up goods

    • C.

      A person who likes to invest

    Correct Answer
    B. A person who buys and uses up goods
  • 5. 

    Goods are

    • A.

      Items

    • B.

      Something useful and desireable

    • C.

      Candy

    Correct Answer
    B. Something useful and desireable

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  • Current Version
  • Mar 19, 2022
    Quiz Edited by
    ProProfs Editorial Team
  • Nov 15, 2009
    Quiz Created by
    Irdiallo

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