
SS 1202 Economics and Trade Quiz
Authored by Peter Whiffen
Social Studies
7th Grade
Used 1+ times

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19 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the term "economy" refer to?
The study of ancient civilizations
The wealth and resources of a country, including what goods and services we produce and consume
The process of photosynthesis
The history of art
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an example of a good?
Haircuts
Cars
Medical Advice
Education
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is considered a service?
Apples
PS5
Changing tires
Quad
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What distinguishes goods from services?
Goods are intangible, services are tangible.
Goods are things you can see and touch, services are actions done for you.
Goods are actions done for you, services are things you can see and touch.
Goods and services are both intangible.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of a subsistence economy activity?
Investing in the stock market
Growing own vegetables
Manufacturing cars
Developing software
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which activity is NOT typically associated with a subsistence economy?
Hunting for meat
Knitting clothes
Cutting wood for heat
Exporting electronics
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does specialization mean in the context of subsistence living?
Doing multiple tasks at once
Becoming an expert or specializing in one skill
Avoiding any form of work
Sharing tasks equally among everyone
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