Social Studies Chapter 3 Learning And Earning P. 2: Question Preview (ID: 7532)

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If you choose to buy Doritos instead of potato chips, potato chips are your?
a) unchoice
b) opportunity costs
c) services
d) goods

A consumer is?
a) A person who buys a good or service
b) Eats a lot of food
c) Makes items to sell
d) the same as a producer

The United States economy is based on a
a) lot of land
b) Other people telling you what to sell
c) the government telling you what to make and sell
d) free enterprise system

A need is?
a) something that you wish you could have like an xbox or a toy train
b) earrings, bracelets and necklaces
c) something that is required for survival, food, shelter, water
d) tomatoes, soda and apples

What is interdependent?
a) lots of states all together in one area
b) One country being nice to another country
c) When different states rely on each other for different goods and services
d) lots of states in all different areas

How did life change in the late 1800\'s?
a) people followed migrating herds
b) It linked the country by railroads, produced electricity, made steel, and ran engines
c) people went looking for more land and found it, they built little country stores
d) computers created a new way of communication providing businesses with an easier way

How does demand affect the prices of goods and services?
a) If lots of people want an item and companies find it hard to keep up with it, the price will go up
b) demanding an item makes people give it to you
c) if people demand it then the sales person needs to give it to them
d) too many items made the price will go up

How does supply affect the price of goods and services?
a) the cost to make it goes up, creating the price to go up
b) a busines does poorly so it looses money and the price goes down
c) If the business makes too many products then it will cause the price to go down to sell them
d) it all evens out so the price stays the same

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

What are examples of communication?
a) The UPS truck delivers items to your door
b) laptops, trains, and games
c) trains, trucks, and automobiles
d) email, cell phones, and instant messaging

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