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Social Studies Chapter 3 Earning And Learning
Test Description: Economics then and now
Instructions: Answer all questions to get your test result.
1) How did people barter to get the things they needed?
A
The developed skills to make things for their own use
B
The used money to buy goods
C
They bought things with gold
D
They traded goods and services they had for those the needed
2) Why did many settlers move westward during the early 1800\'s?
A
build things
B
to work on the railroad
C
gather cattle
D
find more land
3) What might have drawn the first Americans to North America?
A
To go near lots and lots of water
B
They followed a migrating herds of animals
C
The land was really cheap
D
They just liked it
4) What 1848 discovery led many people to move to California?
A
oil
B
coal
C
electricity
D
gold
5) How does a business make a profit?
A
It sets the price for its goods or services high enough to pay for its costs and have $ left over
B
It doesn\'t pay its workers
C
It buys things at high prices
D
The governement tells it to
6) What role do producers play in our economy?
A
They determine what we use as money
B
They buy goods or products
C
They make goods or products to sell for a profit
D
They ship goods or products from one place to another
7) What is NOT a change that happened in the late 1800's?
A
Many people left farming to work in the cities
B
Railroads expanded all over the country
C
Many people moved from cities to rural area
D
Business grew near the source of raw materials
8) Another name for cities is?
A
economy
B
industry
C
urban areas
D
country
9) Having a large supply of a product can cause?
A
prices to stay the same
B
the price to fall
C
you to make more of that product
D
the price to go higher
10) The process in which a business makes something or provides services in different places around the world is called?
A
bartering
B
globalization
C
demad
D
supply
*select an answer for all questions
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