Market Place 1 & 2 Formative Assessment

a place where people buy and sell goods

• entrepreneurship

• economy

• resource

• marketplace

Are these people consumers or producers?

• Consumers

• Producers

Are they producers or consumers?

• Producers

• Consumers

What are needs? 

• Something that grows in nature
• Something that people would like to have
• Something people must have to live
• Something found on the moon

What are wants?

• Something found in China
• something you must have to live
• something you see in a movie
• something you would like to have

Millions of people see a famous sports star drinking apple juice on television. The fans think apple juice helps make the athlete strong. What will happen to the price of apple juice?

• The price will go up .

• The price will go down.

A person or company that helps get goods from producers to consumers. They may transport or deliver items to stores.

• producer

• consumer

• distributor

3. When we dig and find gold underground, we are finding what type of resource?

• Human resource

• Capital resource

• Natural resource

What is the currency of the United States called?

• Peso

• U.S. Dollar

• corde

• Canadian Dollar

An example of a Human Resource would be...

Check all that are correct.

• Machines

• Doctors

• Animals

• Bus Drivers

• Chefs