Unit 5 Economics

Unit 5 Economics

4th Grade

20 Qs

quiz-placeholder

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Unit 5 Economics

Unit 5 Economics

Assessment

Quiz

Social Studies

4th Grade

Medium

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How did many people in the North try to improve their lives during the 1800's?

They focused on agriculture and farming.

They avoided education and preferred manual labor.

They engaged in isolation and avoided social interactions.

They moved to large cities and specialized in a trade.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An opportunity cost can BEST be described as________

a trade-off.

an expense.

an investment.

a tax.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What should Sam record in the Income section of his person budget?

Utility bills

a birthday gift of $20

Grocery expenses
Car payments

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are two requirements in a voluntary exchange?

One person must have more resources than the other.

The exchange must occur within a specific timeframe.

Both people must be legally obligated to exchange.

Both benefit and are honest about what they are trading.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How did trade help the United States during the American Revolution?

Trade was primarily focused on luxury goods.

The United States gained supplies and allies by trading with France.

Trade only benefited Britain during the war.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The expenses section of a personal budget

shows the amount of money that is spent each month.

shows a promotion at work.

says you buy anything they want at any time.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What geographic factor allowed the South to specialize in agriculture leading up to the Civil War?

Urban industrialization and manufacturing.

The South had better climate and soil that the North.

Limited access to water sources.
Rocky terrain and harsh winters.

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