Economic Basics: True or False

Yes or No

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Quick econ true/false quiz

Created by

Jennifer Cooley

United States

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1	Jennifer Cooley November 7, 2025	% 82	00:33

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Economic Basics: True or FalseOnline version Quick econ true/false quiz by Jennifer Cooley 1 Economics is the study of producing, distributing, and consuming goods and services, and how people spend their money. Yes No 2 Demand is the price of a product. Yes No 3 Goods are items available to purchase; services are acts or products fulfilled through the efforts of others for a price. Yes No 4 Specialization is producing many items at a profit. Yes No 5 A market economy is where private citizens own businesses. Yes No 6 Natural resources are unlimited quantities. Yes No 7 Human resources are machines or buildings. Yes No 8 A command economy is where the government owns the country's resources and businesses. Yes No 9 GDP is the total market value of all final goods and services produced in an economy. Yes No 10 Scarcity means limited quantities of resources to meet unlimited needs. Yes No 11 Capitalism is a traditional economy. Yes No

Economic Basics: True or FalseOnline version

Quick econ true/false quiz

by Jennifer Cooley

Economics is the study of producing, distributing, and consuming goods and services, and how people spend their money.

Yes

Demand is the price of a product.

Yes

Goods are items available to purchase; services are acts or products fulfilled through the efforts of others for a price.

Yes

Specialization is producing many items at a profit.

Yes

A market economy is where private citizens own businesses.

Yes

Natural resources are unlimited quantities.

Yes

Human resources are machines or buildings.

Yes

A command economy is where the government owns the country's resources and businesses.

Yes

GDP is the total market value of all final goods and services produced in an economy.

Yes

Scarcity means limited quantities of resources to meet unlimited needs.

Yes

Capitalism is a traditional economy.

Yes

You can integrate the game into an LMS compatible with LTI 1.1 or LTI 1.3 such as Canvas, Moodle, or Blackboard. This way, the scores will be automatically saved into the platform’s gradebook.

Economic Basics: True or False

Yes or No

About this activity

Created by

Download the paper version to play

Top Games

Yes or No

Is it true?

Yes or No

Foot and Ankle Anatomy Quiz

Yes or No

Adjective Checker

Yes or No

Is it created with Artificial Intelligence? - Complete game

Yes or No

Grammys for best song/record

Economic Basics: True or FalseOnline version

by Jennifer Cooley

Economics is the study of producing, distributing, and consuming goods and services, and how people spend their money.

Demand is the price of a product.

Goods are items available to purchase; services are acts or products fulfilled through the efforts of others for a price.

Specialization is producing many items at a profit.

A market economy is where private citizens own businesses.

Natural resources are unlimited quantities.

Human resources are machines or buildings.

A command economy is where the government owns the country's resources and businesses.

GDP is the total market value of all final goods and services produced in an economy.

Scarcity means limited quantities of resources to meet unlimited needs.

Capitalism is a traditional economy.

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