Practice Test - CE.11a and b

Practice Test - CE.11a and b

7th Grade

15 Qs

quiz-placeholder

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Practice Test - CE.11a and b

Practice Test - CE.11a and b

Assessment

Quiz

Social Studies

7th Grade

Easy

Created by

Shawnda Perkins

Used 24+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

the manufactured goods used to make other goods and services (Examples: tools, trucks, machines, and office equipment, among other items)

profit

scarcity

capital

production

2.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

selection of an item or action from a set of possible alternatives

choice

resources

labor

profit

3.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

the inability to satisfy all wants at the same time/limited quantities of resources to meet unlimited wants

production

profit

capital

scarcity

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Individuals and businesses are owners and decision makers for the private sector. • The government is owner and decision maker for the public sector. • The government's role is greater than in a free market economy and less than in a command economy. • Most economies today, including the United States, are this type of economy.

mixed economy

traditional economy

production

command economy

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

what is given up when a choice is made (the second best alternative)

resources production opportunity cost natural resources

production

opportunity cost

natural resources

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

the using of goods and services

production

monopoly

consumption

opportunity cost

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Private ownership of property/resources • Profit motive • Competition • Consumer sovereignty • Individual choice • Minimal government involvement in the economy

traditional economy

free market economy

command economy

natural resources

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