Economic Activities and Subsistence Economy

Economic Activities and Subsistence Economy

8th Grade

17 Qs

quiz-placeholder

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Economic Activities and Subsistence Economy

Economic Activities and Subsistence Economy

Assessment

Quiz

Business

8th Grade

Easy

Created by

Amal Bissessar

Used 1+ times

FREE Resource

17 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the three basic needs of all humans?

Books, electricity, friends

Air, love, clothing

Food, water, shelter

Internet, education, transportation

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the characteristics of a subsistence economy?

Producing enough to meet basic needs without surplus for trade, simple technology, self-sufficiency, survival focus

Complex technology

Luxury focus

High surplus for trade

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does a subsistence economy impact a community?

A subsistence economy impacts a community by focusing on producing enough food, goods, and services to meet the basic needs of its members.

A subsistence economy promotes economic growth and development

A subsistence economy leads to excessive consumption of resources

A subsistence economy encourages reliance on external aid

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are some challenges in meeting basic needs in a subsistence economy?

Consistent weather conditions

Limited access to resources, lack of infrastructure, unpredictable weather conditions, minimal opportunities for economic growth

Well-established infrastructure

Abundant access to resources

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the role of government in economic activities?

To distribute wealth equally among citizens

To control all aspects of production and consumption

To eliminate competition in the market

To create and enforce regulations, provide public goods and services, manage monetary policy, and address market failures.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Explain the concept of barter.

Barter involves three parties exchanging goods

Barter is a modern financial system

Barter is a direct exchange of goods or services between two parties without using money.

Barter is a form of currency exchange

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does direct production differ from other economic activities?

Direct production involves bartering goods, while other economic activities involve using currency.

Direct production is only done by large corporations, while other economic activities are done by individuals.

Direct production is a modern concept, while other economic activities are traditional practices.

Direct production is self-consumption, while other economic activities involve exchange for money.

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