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