SS: Chapter 1 Lesson 4 Review- Economics

Which of the following is considered a need?

• Food

• Television

• The iPhone 11

• A car

Which of these describes an aspect of a healthy economy?

• Many businesses are closing

• All goods are coming in from other countries

• Many people are employed

Which word means there is a very limited number of something?

• Good

• Scarcity

• Service

• Budget

Which of the following is an example of an income?

• budget

• playing the lottery

• savings

• allowance

These are goods sent to other countries

• imports

• services

• exports

• inflation

If you find a minted quarter with a "P" on it, what does it mean?

• It's a penny

• It was minted in Philadelphia, Pennsylvania

• It weighs a pound

• It was made in Paris, France

What is the word that describes how many people want a good or service?

• Demand

• Supply

• Economy

• Consumer

What word describes how much of a certain product is available?

• economy

• demand

• supply

• mint

What is made at a mint?

• Cotton Candy

• Tic Tacs

• Coins

• Goods

If you purchase things you need and want, what are you?

• A producer

• An employee

• A consumer

• A clerk