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WorksheetsSSEF3
Total questions: 10
Worksheet time: 20mins
Name
Class
Date
1.
How does specialization encourage international trade?
a)
When countries specialize in one product, they can master it and sell it to other nations.
b)
When countries make many different products, they do not have to trade.
c)
Specialization uses resources from many countries.
d)
Specialization does not encourage international trade.
2.
Which is the best example of specialization?
a)
A surf shop lowers the price on swimsuits.
b)
A dry cleaner spends extra time on grease spots.
c)
An assistant in a tailoring shop only replaces zippers.
d)
An online clothing outlet offers customized monograms.
3.
How does division of labor increase productivity?
a)
Workers require minimal training.
b)
Workers require minimal training.
c)
Workers become expert at one task.
d)
Workers move often from job to job.
4.
In a voluntary exchange, why do people give something up?
a)
to increase their self-sufficiency
b)
to get something they want more
c)
to allocate scarce resources fairly
d)
to allocate scarce resources fairly
5.
What's the relationship between specialization and voluntary exchange?
a)
specialization leads to a need for voluntary exchange
b)
specialization exists because of voluntary exchanges
c)
voluntary exchanges causes specialization
d)
voluntary exchange negates the need for specialization
6.
•Workers perform fewer tasks in order to operate more efficiently
a)
Land
b)
Division of Labor
c)
Factors of Producation
d)
Marginal Benefit
7.
A focus on developing only certain skills or producing only certain goods/services
a)
Imports
b)
Exports
c)
Specialization
d)
Globalization
8.
when people are experts in their field to the degree that they can offer services for sale to customers, they are demonstrating which of the following economic concepts?
a)
division of labor
b)
specialization
c)
paradox of value
9.
Mrs. Pinero opens her own store, selling pink pencils. Her business is an example of
a)
Division of labor
b)
Mass production
c)
Specialization
d)
Pinkship
10.
Division of labor is a characteristic of
a)
home craft businesses
b)
assembly line production
c)
classroom education
d)
entrepreneurship
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