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SY21 The American Economy

Authored by Thomas Simone

Social Studies

7th Grade

Used 86+ times

SY21 The American Economy
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these is considered a service?

a car

a burrito

a mechanic

a sofa

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An individual can earn ___________ by making goods and services in the economy.

GDP

market value

income

factors of production

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A person who takes the risk to start a business is called a(n)

developer

entrepreneur

strategist

economist

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Gross Domestic Product or GDP measures the value of

all intermediate goods sold in a specific country

all services done in a country during one year

all final products produced in a country in one year

all workers hired in a country during one year

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these would be considered an intermediate good?

a computer

a book

a nail

a chair

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these would be counted in GDP?

The sale of a used car between 2 neighbors

Cooking a large dinner for your family

The purchase of fabric used to make a shirt

The purchase of a laptop from a store

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

GDP per capita means GDP

for a period or 4 years

per person

after an economic recession

that only includes services

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