
Module 5 End of Module Assessment
Quiz
•
Social Studies
•
5th - 7th Grade
•
Medium
Tracy Brinkley
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21 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is a profit motive important in many economies?
People would not use coupons without it.
Businesses could not advertise without it.
Businesses could not set prices without it.
People would not start businesses without it.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Raw materials used to produce goods.
labor
capital
financial capital
natural resources
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Human time, effort, skills, and talent needed to produce goods.
labor
capital
financial capital
natural resources
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Money that a business uses to buy the items needed for the business to function.
labor
capital
financial capital
natural resources
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Items such as tools, machines, factories, and office equipment needed for a business to function.
labor
capital
financial capital
natural resources
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following scenarios accurately illustrates the concept of economic interdependence?
An entrepeneur decides to open a bakery and produces bread for the neighborhoo.
Good rainfall allows a farmer to produce more strawberries and he chooses to expand his business.
Japan lacks iron to make steel, so Japan enters into a trading relationship with Australia and Brazil, who supply Japan with iron ore.
South Africa is rich in diamonds, gold, and mineral resources, so South Africa creates a mining industry that produces much wealth.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What kind of economy does China have?
capitalist
communist
socialist
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