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Econ Introduction G7 Midterm

Authored by Kait Kait)

Social Studies, Other Sciences, Specialty

7th Grade

Used 1+ times

Econ Introduction G7 Midterm
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25 questions

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1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

________is when we trade one thing for another without using money.

borrow

money

barter

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which choice best describes the economic problem of scarcity in the world?

People have limited wants there is an unlimited amount of resources.

People have unlimited wants but there is a limited amount of resources

People have no wants so resources don't matter

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following are examples of goods?

Apples, Computers, Clothing

Firemen, Police Officers, Soldiers

Health, Love, Friendship

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following are examples of services?

Apples, Computers, Clothing

Firemen, Police Officers, Soldiers

Health, Love, Friendship

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which type of economy allows the government to determine what to produce, how to produce it, and who gets it?

Command Economy

Market Economy

Traditional Economy

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which type of economy allows past customs and family tradition to determine what to produce, how to produce it, and who gets it?

Command Economy

Market Economy

Traditional Economy

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which type of economy allows people to freely decide what to produce and how to produce it and people get or buy what they can afford?

Command Economy

Market Economy

Traditional Economy

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