Module 5: Economics

Module 5: Economics

6th Grade

12 Qs

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Module 5: Economics

Module 5: Economics

Assessment

Quiz

Social Studies

6th Grade

Practice Problem

Medium

Created by

Lauren Berry

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12 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is a profit motive important in many economies?

People would not use coupons without it.

Businesses could not advertise without it.

Businesses could not set prices without it.

People would not start businesses without it.

2.

MATCH QUESTION

1 min • 1 pt

Match the economic term with its description.

financial capital

money that a business uses to buy the items needed for the business to function

capital

human time, effort, skills, and talent needed to produce goods

natural resources

raw materials needed to produce goods

labor

items such as tools, machines, factories, and office equipment needed for a business to function

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following scenarios accurately illustrates the concept of economic interdependence?

An entrepreneur decides to open a bakery and produces bread for the neighborhood.

Good rainfall allows a farmer to produce more strawberries and he chooses to expand his business.

Japan lacks iron to make steel, so Japan enters into a trading relationship with Australia and Brazil, who supply Japan with iron ore.

South Africa is rich in diamonds, gold, and mineral resources, so South Africa creates a mining industry that produces much wealth.

4.

MATCH QUESTION

1 min • 1 pt

Match the name of the country with its type of economy

Sweden

Socialist

China

Capitalist

Taiwan

Communist

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why must governments ensure that corporate taxes are not too high?

Public services will suffer.

Businesses will not make a profit.

The government cannot invest in education.

The government cannot invest in national defense.

6.

MATCH QUESTION

1 min • 1 pt

Match the type of industry with its description

tertiary industry

Inspectors examine the quality of cheese.

quaternary industry

Cheese makers use milk from dairy cows to produce cheese.

primary industry

A farmer sells milk produced from dairy cows.

secondary industry

A grocer sells cheese in a market.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which investment option would fall on the upper right portion of the graph?

stocks

savings accounts

certificates of deposit

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