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Vocabulary Review
Test Description: 2nd Semester Review
Instructions: Answer all questions to get your test result.
1) What is a custom?
A
a way of doing something that is passed on from parents to children
B
the study of what happened to people in the past
C
someone or something that gives information
D
a group's way of doing something
2) A way of doing something that is passed on from parents to children is.
A
custom
B
scarce
C
tradition
D
source
3) What is a museum?
A
to keep money to for later
B
a building in which objects from other times and places are displayed
C
things that can be bought and sold
D
a way of doing something that is passed down from generation to generation
4) What is scarce?
A
a business that looks after people's money
B
to exchange one thing for another
C
not in good supply
D
the freedom to start and run any kind of business
5) The freedom to start and run any kind of business is called...
A
bank
B
museum
C
producer
D
free enterprise
6) What is a producer?
A
a person who buys and uses goods and services
B
work doen for others for money
C
a person who makes, grows, or sells goods
D
the making or selling of goods and services
7) Things that can be bought and sold are called what?
A
services
B
consumer
C
goods
D
producer
8) To exchange one thing for another is...
A
save
B
bank
C
trade
D
income
9) What is income?
A
to keep money to use later
B
to exchange one thing for another
C
the making or selling of goods and services
D
the money people earn for the work they do
10) What is a consumer?
A
a person who buys and uses goods and services
B
a person who makes, grows, or sells goods
C
someone or something that can give information
D
not in good supply
*select an answer for all questions
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