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Economics Review
Test Description: Reviews 3rd grade economic SOL's 3.7, 3.8, 3.9
Instructions: Answer all questions to get your test result.
1) What is a natural resource?
A
A building
B
Something that comes from nature
C
There is no such thing
D
Something that is man made
2) What is a capital resource?
A
a natural resource
B
something that comes from nature
C
water
D
something that people make to help them make other goods and services
3) What is a human resource?
A
A gift from nature
B
People at work helping other people
C
A tool or machine
D
A game
4) What is a producer?
A
A person who buys goods and services
B
A building
C
A person who makes goods and provides services
D
A small group of animals
5) What is a consumer?
A
A person who buys goods and serivces
B
Resources used to make goods and services
C
A natural resource
D
A person who makes goods and services
6) What is specialization?
A
A good
B
Being and expert and one job
C
Depending on others
D
A capital resource
7) What is opportunity cost?
A
Using goods and services
B
What is given up when making a choice
C
People at work
D
A producer
8) What does Virginia specialize in?
A
computers
B
wood
C
oil
D
shipbuilding and coal mining
9) We depend on other countires for _________.
A
ships
B
salt
C
oil
D
gold
10) This is a capital resource...
A
A teacher
B
Water
C
A man working at a store
D
A hammer
*select an answer for all questions
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