Social Studies Chapter 1 Lesson 4 Weekly Quiz

What is another way to describe a free market?

• People and businesses use money as a tool in a market economy.

• Every product and service is free (you don't have to pay for it!).

• People and business don't use money.

In a market economy, what roles might a government have? (Choose more than one)

• 
• 
• 

These doctors and nurses work in a hospital emergency room.

What do they provide? (Choose TWO)

• a product

• a service

• labor

What is a synonym for products?

• goods

• bads

• services

How do you describe when money flows between business and individuals?

• the circular flow of money

• the falling flow of money

• the flow of a money river

Complete this sentence:

"The supermarket has a lot of eggs to sell. They have a large ___ of eggs."

• supply

• demand

• consumer

Complete this sentence:

"Thousands of people want to buy the new PS5 game console. There is a huge ___ for the PS5."

• supply

• demand

• goods

My company sells Kewpie Dolls.
I have a HUGE supply of the dolls in my factory, but almost nobody wants to buy them! There is very little demand for them.

What will happen to the price of my Kewpie Dolls?

• The price will go up.

• The price will go down.

• The price will stay the same.