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