Unit 7

Unit 7

7th Grade

25 Qs

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Unit 7

Unit 7

Assessment

Quiz

Geography, Social Studies

7th Grade

Easy

Used 13+ times

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25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Gross Domestic Product
is a measure of the total value of all.....

Consumer income in an economy over a period of time
Capital accumulation in an economy over a period of time.
Sales in an economy over a period of time.
The goods and services produced in an economy over a period of time

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In a command economy, who holds power over the economy?

The people
The government 
Beyonce
The traditions of your ancesetors 

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A person who comes up with a product or service, and finds the money and time to produce this new product.

Entrepreneur
Incentive
Specialization
Barter

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Why is a system of currency exchange necessary for international trade?

The people buying goods want to be paid in gold and silver
To pay for goods purchased from different countries
All currencies are worthless on the world market
Most goods must be paid in US dollars 

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

How do countries benefit from having natural resources? 

Countries that have a lot of natural resources are able to use them to produce goods & services at a lower price than those who do not
Countries that have a lot of natural resources are not capable of selling these items to other countries.
Countries that have a lot of natural resources are generally poor and do not do well economically. 
Countries get rid of all of their natural resources to create arable land.

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Emphasizing which economic practice MOST helps African economies benefit from international trade?

specialization

generalization

raising interest rates

lowering inflation rates

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What does Nigeria specialize in?

oil production

agriculture

textiles

manufacturing

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