Grade 7 Economics : Question Preview (ID: 3545)

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Scarcity is:
a) having more than what is needed
b) having less than what is needed
c) having the right amount
d) having better quality than needed

Which state specializes in the growth of potatoes?
a) Florida
b) Missouri
c) Maine
d) Idaho

Which states specialize in the production of oil?
a) Missouri, Iowa, Illinois, and Indiana
b) Oklahoma, Texas, and Alaska
c) Vermont and New Hampshire
d) California and Florida

Which state specializes in the growth of sugarcane?
a) Maine
b) Illinois
c) Utah
d) Hawaii

Which products are the specialty of Canada?
a) lumber, furniture, and paper
b) chickens and turkeys
c) computers and electronics
d) automobiles and farm equipment

Which is not an example of a specialized career?
a) dermatologist
b) cardiologist
c) family doctor
d) pediatrician

A school's capital resources would not include:
a) computers
b) desks and chairs
c) copy machines
d) teachers

Which is not a natural resource?
a) apple trees in an orchard
b) sunshine
c) Missouri River
d) deer

An example of labor would be:
a) A secretary typing a letter.
b) A farmer plowing a field.
c) A highway patrolman escorting a prisoner.
d) All of the above.

Which is not a source of income to you?
a) Interest on your savings account
b) Rent from your cousin who has a room in the basement.
c) Wages from your job at McDonalds.
d) Paying sales tax at Wal-Mart

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