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Grade 6 Social Studies · Economics and Resources

Grade 6 Economics and Resources Practice Test

Build Grade 6 Social Studies skills with five 10-question practice tests on scarcity, resources, production, consumption, trade, markets, opportunity cost, budgeting, economic systems, and sustainability.

Economics and Resources Practice Tests

These Grade 6 Social Studies practice tests help students explain how people and societies make choices when resources are limited. Students study scarcity, needs, wants, opportunity cost, natural and human resources, capital, production, consumption, specialization, trade, markets, supply, demand, incentives, budgets, economic systems, conservation, and sustainability.

Skills covered

  • Explaining scarcity, needs, wants, trade-offs, opportunity cost, and economic choices
  • Identifying land, labor, capital, entrepreneurship, natural resources, goods, services, producers, and consumers
  • Understanding productivity, specialization, division of labor, technology, trade, comparative advantage, and markets
  • Explaining incentives, demand, supply, competition, regulation, prices, and consumer choices
  • Comparing renewable and nonrenewable resources, conservation, pollution, and sustainability
  • Understanding budgets, saving, market economies, command economies, and mixed economies

How to use these practice tests

First identify the limited resource, choice, producer, consumer, or market relationship described in the question. Then ask what is being given up, how incentives affect decisions, and whether the resource can be renewed. For economic systems and sustainability questions, compare who makes decisions, how resources are allocated, and what effects may continue into the future.

For more Grade 6 Social Studies practice, return to the Grade 6 Social Studies category.

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Grade 6 Economics and Resources Practice Tests

A 10-question Grade 6 Social Studies practice test on scarcity, needs, wants, resources, production, consumption, trade, markets, opportunity cost, budgeting, economic systems, and sustainability.

Identify the economic concept in each question, compare limited resources with wants, and use the evidence about choices, production, trade, markets, or sustainability to select the best answer.

10 Questions
0/10 Questions0 %
Correct 0
Incorrect 0
Unanswered 10
1. QuestionMultiple choice

What is an incentive?

Please select an answer first.

Correct answer: A

The correct answer is A reward or penalty that influences a persons choices.

  1. Identify the economics concept: Determine whether the question asks about scarcity, resources, production, consumption, trade, markets, money, or sustainability.
  2. Use the evidence: Incentives can encourage or discourage actions by changing expected benefits or costs.
  3. Check the relationship: Connect choices, incentives, resources, prices, production, and environmental effects to confirm the answer.

Incentives can encourage or discourage actions by changing expected benefits or costs.

2. QuestionMultiple choice

What usually happens when the price of a good rises, all else equal?

Please select an answer first.

Correct answer: B

The correct answer is Consumers often demand less of it, while producers may be willing to supply more..

  1. Identify the economics concept: Determine whether the question asks about scarcity, resources, production, consumption, trade, markets, money, or sustainability.
  2. Use the evidence: Price changes influence buyer and seller decisions, although the size of the response can vary.
  3. Check the relationship: Connect choices, incentives, resources, prices, production, and environmental effects to confirm the answer.

Price changes influence buyer and seller decisions, although the size of the response can vary.

3. QuestionMultiple choice

What is demand?

Please select an answer first.

Correct answer: C

The correct answer is The amount of a good or service consumers are willing and able to buy at different prices.

  1. Identify the economics concept: Determine whether the question asks about scarcity, resources, production, consumption, trade, markets, money, or sustainability.
  2. Use the evidence: Demand includes both willingness and ability to purchase, not merely a desire for a product.
  3. Check the relationship: Connect choices, incentives, resources, prices, production, and environmental effects to confirm the answer.

Demand includes both willingness and ability to purchase, not merely a desire for a product.

4. QuestionMultiple choice

What is supply?

Please select an answer first.

Correct answer: D

The correct answer is The amount of a good or service producers are willing and able to offer at different prices.

  1. Identify the economics concept: Determine whether the question asks about scarcity, resources, production, consumption, trade, markets, money, or sustainability.
  2. Use the evidence: Supply describes what producers are prepared and able to bring to a market.
  3. Check the relationship: Connect choices, incentives, resources, prices, production, and environmental effects to confirm the answer.

Supply describes what producers are prepared and able to bring to a market.

5. QuestionMultiple choice

What is a market?

Please select an answer first.

Correct answer: A

The correct answer is A system or place where buyers and sellers exchange goods and services.

  1. Identify the economics concept: Determine whether the question asks about scarcity, resources, production, consumption, trade, markets, money, or sustainability.
  2. Use the evidence: Markets can be physical or online and use exchange, information, prices, and rules.
  3. Check the relationship: Connect choices, incentives, resources, prices, production, and environmental effects to confirm the answer.

Markets can be physical or online and use exchange, information, prices, and rules.

6. QuestionMultiple choice

Why can competition benefit consumers?

Please select an answer first.

Correct answer: B

The correct answer is It can encourage producers to improve quality, offer variety, or keep prices reasonable..

  1. Identify the economics concept: Determine whether the question asks about scarcity, resources, production, consumption, trade, markets, money, or sustainability.
  2. Use the evidence: When sellers compete for customers, they may respond with better value, quality, service, or innovation.
  3. Check the relationship: Connect choices, incentives, resources, prices, production, and environmental effects to confirm the answer.

When sellers compete for customers, they may respond with better value, quality, service, or innovation.

7. QuestionMultiple choice

What is trade?

Please select an answer first.

Correct answer: C

The correct answer is The exchange of goods, services, or resources between people or groups.

  1. Identify the economics concept: Determine whether the question asks about scarcity, resources, production, consumption, trade, markets, money, or sustainability.
  2. Use the evidence: Trade allows participants to obtain goods or services they value by exchanging with others.
  3. Check the relationship: Connect choices, incentives, resources, prices, production, and environmental effects to confirm the answer.

Trade allows participants to obtain goods or services they value by exchanging with others.

8. QuestionMultiple choice

Why can specialization increase trade?

Please select an answer first.

Correct answer: D

The correct answer is Specialized producers make particular goods or services and exchange for what they do not produce..

  1. Identify the economics concept: Determine whether the question asks about scarcity, resources, production, consumption, trade, markets, money, or sustainability.
  2. Use the evidence: Specialization creates interdependence and gives people reasons to exchange different outputs.
  3. Check the relationship: Connect choices, incentives, resources, prices, production, and environmental effects to confirm the answer.

Specialization creates interdependence and gives people reasons to exchange different outputs.

9. QuestionMultiple choice

What is comparative advantage?

Please select an answer first.

Correct answer: A

The correct answer is The ability to produce something at a lower opportunity cost than another producer.

  1. Identify the economics concept: Determine whether the question asks about scarcity, resources, production, consumption, trade, markets, money, or sustainability.
  2. Use the evidence: Comparative advantage explains why trade can benefit both sides even when one producer is more productive overall.
  3. Check the relationship: Connect choices, incentives, resources, prices, production, and environmental effects to confirm the answer.

Comparative advantage explains why trade can benefit both sides even when one producer is more productive overall.

10. QuestionMultiple choice

Why might a government regulate a market?

Please select an answer first.

Correct answer: B

The correct answer is To protect safety, property, fairness, competition, consumers, or the environment..

  1. Identify the economics concept: Determine whether the question asks about scarcity, resources, production, consumption, trade, markets, money, or sustainability.
  2. Use the evidence: Governments may set standards or rules when markets create risks, unfair practices, or public costs.
  3. Check the relationship: Connect choices, incentives, resources, prices, production, and environmental effects to confirm the answer.

Governments may set standards or rules when markets create risks, unfair practices, or public costs.

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Frequently asked questions about Grade 6 Economics and Resources

What topics are covered?

The page covers scarcity, needs, wants, opportunity cost, resources, production, consumption, goods, services, specialization, trade, markets, supply, demand, incentives, budgets, saving, economic systems, conservation, pollution, and sustainability.

How should students analyze an economics question?

Identify the scarce resource or choice, determine who produces or consumes, compare costs and benefits, and consider how incentives, trade, markets, or environmental effects influence the result.

How many questions are on this page?

The page includes five mini tests with 10 questions each, for 50 Grade 6 Economics and Resources questions in total.