Civics Study Guide Quiz

How would you describe goods? (p434)

• Tangible items that satisfy human wants

• Services provided by businesses

• Digital products sold online

• Financial assets like stocks and bonds

Why are goods and services important to the economy? (p.434)

• They provide employment opportunities

• They contribute to GDP

• They satisfy consumer needs

• All of the above

What are the main features of modern mass production? (p. 435)

• Customization and small-scale production

• Automation and large-scale production

• Manual labor and artisanal methods

• Limited production and high costs

Describe the gross domestic product. (GDP) (p. 435)

• The total value of goods produced in a country

• The total value of services provided in a country

• The total value of goods and services produced in a country

• The total value of exports and imports

Explain in your own words profit.

• The revenue earned from sales

• The cost of production

• The financial gain after expenses

• The investment in a business

What is the service sector of the economy?

• The sector that produces goods

• The sector that provides services

• The sector that exports products

• The sector that imports raw materials

Define marketing. (p. 444)

• The process of selling goods

• The process of promoting and selling products or services

• The process of manufacturing products

• The process of distributing goods

How are services delivered to consumers in the United States? (p. 444-445)

• Through online platforms

• Through physical stores

• Through both online and offline methods

• Through government agencies

What are the four main ways that goods are transported to consumers?

• Air, sea, road, rail

• Pipeline, drone, bicycle, foot

• Space, underground, telepathy, teleportation

• None of the above

How does mass marketing help the US economy?

• By increasing consumer awareness

• By reducing production costs

• By increasing sales and economic growth

• By limiting consumer choices