Factors of Economic Growth and Voluntary Trade

Factors of Economic Growth and Voluntary Trade

7th Grade

16 Qs

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Factors of Economic Growth and Voluntary Trade

Factors of Economic Growth and Voluntary Trade

Assessment

Quiz

Social Studies

7th Grade

Medium

Created by

Brittany Williams

Used 4+ times

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16 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What must you do in order to purchase goods or services when visiting a country which uses a currency different from your own?

Currency Exchange

Import Currency

Specialize

Invest

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When countries focus on making certain goods because they are cheaper and more efficient to make. Also known as "Do what you do best, and trade for the rest".

Imports

Exports

Specialization

Globalization

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The United Kingdom has few natural resources. However, they do very well in manufacturing, banking, and technology services. They focus on these parts of their economy and trade for natural resources.


What economic term describes what the United Kingdom is doing?

Trade Barriers

Specialization

Mixed Economy

Entrepreneurship

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Human capital is

Tools and equipment people use

The people who work

Tools and people

Things used to build stuff

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which is an example of investment in human capital?

trucks
factories
education
highways

6.

MULTIPLE SELECT QUESTION

2 mins • 1 pt

Choose an example of human capital (you must pick 2 answers)

Media Image
Media Image
Media Image
Media Image

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The goods used in the production process such as factories, machinery and equipment

Land

Labor

Resources

Capital(physical)

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