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Economics and Money Quiz
Test your knowledge of economics and money with this interactive quiz designed for kids in grades 4 to 6. Explore topics such as income, production, inflation, budgeting, and more. Engage young learners in an educational and fun quiz that introduces them to key concepts in economics
Select the right answer for below questions:
What is the definition of economics?
The study of plants and animals
The study of the earth and its features
The study of money, resources, and the production of goods and services
The study of human societies and their cultures
The study of money, resources, and the production of goods and services
What is the term for the money earned by individuals or businesses for providing goods or services?
Income
Savings
Investment
Expense
Income
Which of the following is an example of a natural resource?
Money
Cars
Water
Computers
Water
What is the term for the total value of all goods and services produced within a country in a given period?
Gross Domestic Product (GDP)
Inflation
Trade deficit
Consumer price index
Gross Domestic Product (GDP)
What is the term for the process of making goods and services using resources?
Consumption
Production
Distribution
Exchange
Production
What is the term for the money paid to borrow money or the cost of borrowing money?
Interest
Inflation
Budget
Profit
Interest
What is the term for the increase in the general price level of goods and services over time?
Inflation
Recession
Budget
Savings
Inflation
What is the term for the act of giving up one thing in order to have something else?
Savings
Budget
Trade-off
Investment
Trade-off
Which of the following is an example of a fixed expense?
Groceries
Entertainment
Rent
Vacation
Rent
What is the term for the money left over after subtracting expenses from income?
Budget
Profit
Savings
Debt
Savings
What is the term for the study of how people make choices to satisfy their needs and wants with limited resources?
Economics
Entrepreneurship
Marketing
Supply and demand
Economics
What is the term for the cost of a good or service in terms of the next best alternative that is given up?
Opportunity cost
Demand
Supply
Investment
Opportunity cost
What is the term for the economic system where resources are owned and controlled by individuals or businesses?
Capitalism
Socialism
Communism
Mixed economy
Capitalism
What is the term for the economic system where resources are owned and controlled by the government?
Capitalism
Socialism
Communism
Mixed economy
Socialism
What is the term for the process of buying and selling goods and services between countries?
Inflation
Trade
Demand
Investment
Trade
What is the term for the desire, ability, and willingness to buy a product?
Supply
Demand
Profit
Savings
Demand
What is the term for the amount of a product that producers are willing to sell at a certain price?
Supply
Demand
Profit
Savings
Supply
Submit
Retry
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