
Social Studies - Chapter 4 - Economics and Vocabulary Quiz
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Social Studies
4th Grade
Used 12+ times

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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which is true about a command economy?
People decide prices
Prices are set by the government
You can sell anything, anytime
You trade without money
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens when lots of people want something but there isn’t much of it?
Prices go down
The product disappears
Prices go up
Everyone gets one for free
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Choose the best meaning for the term 'Market Economy'.
People make choices about buying and selling
The government sets all prices
There is no money
People must share everything
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Choose the best meaning for the word 'Producer'.
A person who buys goods
A person who makes goods or services
A person who uses money
A person who fixes things
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Inflation is when prices go down a lot.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does it mean to export goods?
To buy things from another country
To keep all products at home
To send goods to other countries to sell
To trade without using money
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Choose the best meaning for the word 'Profit'.
The amount of money you lose
Money earned after paying costs
The price of a toy
A shopping receipt
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