Grade 9 Economics Challenge

Froggy Jumps

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Fun econ basics for teens

Rona Jean Daniel

Philippines

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Grade 9 Economics Challenge


Froggy Jumps Grade 9 Economics ChallengeVersion en ligne Fun econ basics for teens par Rona Jean Daniel 1 What is scarcity in economics? a Free goods everywhere b Abundant resources for limited needs c Limited resources for unlimited wants 2 Which term describes the satisfaction from consuming a good? a Economy b Utility c Value 3 What is the basic economic problem? a Scarcity and choice b Abundance and waste c Profit only 4 Which factor typically shifts the demand curve to the right? a Decrease in population b Higher prices of substitutes c Rise in consumer incomes 5 What does a supply curve represent? a Cost of production only b Quantity consumers buy at each price c Quantity producers are willing to sell at each price 6 What is opportunity cost? a A government tax b The next best alternative forgone c The total cost of all options 7 Which phrase best describes 'markets determine price'? a Prices are fixed by the government b Supply and demand interact to form prices c Prices are random 8 What is inflation? a No change in prices over time b A persistent rise in the general price level c A fall in all prices 9 Which pygmy government policy lowers unemployment? a Contractionary policy b Expansionary fiscal policy c Neutral policy 10 Which is a characteristic of a mixed economy? a Only markets decide b Only government decides c Both government and markets allocate resources