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Social Studies Chapter 3 Learning And Earning P. 2
Test Description: Chapter 3 cont.
Instructions: Answer all questions to get your test result.
1) If you choose to buy Doritos instead of potato chips, potato chips are your?
A
opportunity costs
B
services
C
goods
D
unchoice
2) A consumer is?
A
Eats a lot of food
B
the same as a producer
C
Makes items to sell
D
A person who buys a good or service
3) The United States economy is based on a
A
the government telling you what to make and sell
B
free enterprise system
C
Other people telling you what to sell
D
lot of land
4) A need is?
A
earrings, bracelets and necklaces
B
something that is required for survival, food, shelter, water
C
tomatoes, soda and apples
D
something that you wish you could have like an xbox or a toy train
5) What is interdependent?
A
When different states rely on each other for different goods and services
B
One country being nice to another country
C
lots of states all together in one area
D
lots of states in all different areas
6) How did life change in the late 1800\'s?
A
computers created a new way of communication providing businesses with an easier way
B
people went looking for more land and found it, they built little country stores
C
people followed migrating herds
D
It linked the country by railroads, produced electricity, made steel, and ran engines
7) How does demand affect the prices of goods and services?
A
demanding an item makes people give it to you
B
too many items made the price will go up
C
If lots of people want an item and companies find it hard to keep up with it, the price will go up
D
if people demand it then the sales person needs to give it to them
8) How does supply affect the price of goods and services?
A
it all evens out so the price stays the same
B
a busines does poorly so it looses money and the price goes down
C
the cost to make it goes up, creating the price to go up
D
If the business makes too many products then it will cause the price to go down to sell them
9) Will bartering help the world economy?
A
yes, because bartering involves money and money makes the world go around
B
yes, because we like other countries and it would be good to trade our goods
C
no, because too many things will be made and then nobody will want them
D
no, because trading does not involve money and will not help the economy
10) What are examples of communication?
A
email, cell phones, and instant messaging
B
trains, trucks, and automobiles
C
laptops, trains, and games
D
The UPS truck delivers items to your door
*select an answer for all questions
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