2nd Marking Period Social Studies Exam 2025 Economics

Economics is important because it _______________ us everyday.

Fill in the blanks.

People plan on how to spend their money by deciding what they __________ or __________.

• save
• spend
• need

• want

What does making a budget involve making?

• money

• decisions

• needs

• wants

Match the definition of the vocabulary words.

• people who run or own a business

• employer

• someone who buys goods or services

• buyer

• people who for a business

• seller

• someone who sells goods or services

• employee

• to swap or give up one item for another

• exchange

Give an example of a good.

Select all the ways buyers get goods and services.

• shops

• stores

• online

Goods can be sold on the internet.

• True

• False

Select the 3 types of resources.

• natural

• human

• capital

• business

Match the resource with its definition.

• materials that are found in nature

• human resource

• the people who work for a business

• natural resource

• goods produced and used to make other

• capital resource

Give an example of how a natural resource that can be used in their natural form.