Economics Test Review

The way people make, buy, sell, and use things:

• Economy

• Money

• Service

• Scarcity

Which of the following would NOT be a quality of an entrepreneur?

• Hardworking

• Creative

• Lazy

• Problem-solver

What is a cash crop?

• Plants that are trees

• Plants that grow a flower

• Plants that can be grown and sold but not eaten

• Plants that grow into food

To do one special kind of work is known as ______________________.

• Specialize

• Trade

• Service

• Barter

To BUY goods or services from sellers in other countries.

• Import

• Export

To SELL goods or services to people in another country.

• Import

• Export

Which of the following is a need?

• Toy

• Computer

• Food

• Doll

A consumer is a person who buys goods and services.

• True

• False

A worker in a factory that builds chairs is called a:

• Capital resource

• Human resource

• Natural resource

A natural resource is a material found in nature that we use to make goods.

• True

• False