Unit 10 Social Studies Test Review

What does scarcity mean?

• Being afraid of a small of a small supply or not enough of something

• Having a very small supply or not enough of something

• Having a very large supply of something

What does the word barter mean?

• a service provided by mass producers

• the exchange of goods and services without the use of money

• slogans or jingles encouraging consumers to buy things

Why did people change from bartering to using money?

• The goods will break or become degraded and then loses its value

• Money was easier to make globally than trading items

• People became less willing to talk to one another in order to barter

Consumers are the same thing as _______?

• Sellers

• Merchants

• Buyers

What did people do or use before money was invented?

• People used leaves like money

• People farmed and made the products they needed

• People relied on the kindness of friends and family

• People bartered for the goods and services they wanted

What must every U.S. coin have on it?

• Date

• United States of America

• A person

• Value of the coin

What is economics?

• people who buy goods or services

• having a very small supply or or not having enough of something

• the study of how money, goods, and services are made and used in a society

• people who provide goods or services

How can water be scarce?

• when a person is hiking in the desert and has only a canteen of water

• when a person buys drinking water at the store and the shelves are full

• when rivers are flooded

The peso is the currency for which countries? Select all.

• Cuba

• United States

• Dominican Republic

• Mexico

• Canada

The dollar is the currency for which countries? Select all.

• United States

• Canada

• Jamaica

• Mexico

• Bahamas