Grade 9 Economics Challenge

Froggy Jumps

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Fun econ basics for teens

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Rona Jean Daniel

Philippines

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Froggy Jumps Grade 9 Economics ChallengeOnline version Fun econ basics for teens by 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

Froggy Jumps

Grade 9 Economics ChallengeOnline version

Fun econ basics for teens

by Rona Jean Daniel

What is scarcity in economics?

Free goods everywhere

Abundant resources for limited needs

Limited resources for unlimited wants

Which term describes the satisfaction from consuming a good?

Economy

Utility

Value

What is the basic economic problem?

Scarcity and choice

Abundance and waste

Profit only

Which factor typically shifts the demand curve to the right?

Decrease in population

Higher prices of substitutes

Rise in consumer incomes

What does a supply curve represent?

Cost of production only

Quantity consumers buy at each price

Quantity producers are willing to sell at each price

What is opportunity cost?

A government tax

The next best alternative forgone

The total cost of all options

Which phrase best describes 'markets determine price'?

Prices are fixed by the government

Supply and demand interact to form prices

Prices are random

What is inflation?

No change in prices over time

A persistent rise in the general price level

A fall in all prices

Which pygmy government policy lowers unemployment?

Contractionary policy

Expansionary fiscal policy

Neutral policy

Which is a characteristic of a mixed economy?

Only markets decide

Only government decides

Both government and markets allocate resources

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Grade 9 Economics Challenge

Froggy Jumps

About this activity

Created by

Download the paper version to play

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Froggy Jumps

Grade 9 Economics ChallengeOnline version

by Rona Jean Daniel

What is scarcity in economics?

Which term describes the satisfaction from consuming a good?

What is the basic economic problem?

Which factor typically shifts the demand curve to the right?

What does a supply curve represent?

What is opportunity cost?

Which phrase best describes 'markets determine price'?

What is inflation?

Which pygmy government policy lowers unemployment?

Which is a characteristic of a mixed economy?

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