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WorksheetsEconomics
Total questions: 12
Worksheet time: 12mins
Name
Class
Date
1.
What is an economic resource?
a)
A good or service that helps people meet their needs.
b)
The way people depend on one another for goods and resources.
2.
Which one is considered an economic resource.
a)
Human
b)
Capital
c)
Natural
d)
All of the Above
3.
A ________ resource that can be made again quickly by nature or people.
a)
Nonrenewable
b)
Renewable
4.
____________ resources are the workers who produce goods and services.
a)
Human
b)
Capital
5.
True or False: Interstate trade is the buying and selling between states.
a)
True
b)
False
6.
What is the difference between importing and exporting goods?
a)
Importing is shipping out. Exporting is shipping in.
b)
Importing is shipping in. Exporting is shipping out.
7.
What is Mrs. Heston's Speciality?
a)
Teaching
b)
Medicine
8.
Dividing work so that each worker does part of a larger job is called ____________?
a)
Specialization
b)
Division of Labor
9.
If you are manufacturing a good are you making it by hand, machine, or both?
a)
Hand
b)
Machine
c)
Both
10.
True or False: Scarcity is when a supply of a good or service is not enough to meet the demand.
a)
True
b)
False
11.
_________ is the process of making goods and services.
a)
Distribution
b)
Production
12.
In mass productions how are goods made?
a)
quickly and cheaply
b)
slow and expensively
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