S.S. Unit 7- Economy

Which of the following is a renewable resource?

• coal
• mica
• oil
• wind

Emily wanted to rent a DVD and buy a pizza, but she did not have enough money to do both. Emily decided to give up renting the DVD in order to buy the pizza.
What kind of economic decision did Emily make?

• business choice
• conservation
• factors of production
• trade-off

Emily wanted to rent a DVD and buy a pizza, but she did not have enough money to do both. Emily decided to give up renting the DVD in order to buy the pizza.
What was the opportunity cost of Emily's decision?

• the pizza
• the DVD
• the price of the DVD
• the price of the pizza

What kind of resource is a raw material?

• capital
• human
• market
• natural

Which of the following is an example of a capital resource?

• bank manager
• computer
• electricity
• water

How do people help conserve NC's forests?

• by recycling glass bottles
• by planting trees
• by using hydroelectricity
• by cleaning air pollution

For which of the following activities do people earn interest?

• saving money in a bank
• investing money in a business
• spending money on a new house
• borrowing money from a bank

Which of these taxes is based on what a person earns?

• import tax
• income tax
• property tax
• sales tax

Which level of government uses tax money to pay for postal service?

• county
• national
• municipal
• state

Today's factories use assembly lines and division of labor to make more products in less time and for less money.
What does the term division of labor mean in the sentence above?

• having each worker do only one part of a larger job
• using machines to do all the parts of a job
• having each worker complete a job from start to finish
• using different rooms to complete each part of a job