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