
Module 5: Economics
Quiz
•
Social Studies
•
6th Grade
•
Practice Problem
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Medium
Lauren Berry
Used 22+ times
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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
items such as tools, machines, factories, and office equipment needed for a business to function
natural resources
raw materials needed to produce goods
capital
money that a business uses to buy the items needed for the business to function
labor
human time, effort, skills, and talent needed to produce goods
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
Communist
China
Capitalist
Taiwan
Socialist
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
secondary industry
Inspectors examine the quality of cheese.
quaternary industry
A grocer sells cheese in a market.
tertiary industry
A farmer sells milk produced from dairy cows.
primary industry
Cheese makers use milk from dairy cows to produce cheese.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which investment option would fall on the upper right portion of the graph?
stocks
savings accounts
certificates of deposit
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