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WorksheetsEconomic Process - Core Concept 5.2
Total questions: 30
Worksheet time: 15mins
To make, create, or manufacture is...
distribution
consumption
production
To deliver, transport, or ship is...
consumption
distribution
production
To purchase, buy, or use is...
distribution
production
consumption
Which is not an example of production?
automobile assembly line at factory
milk being pasteurized at dairy
tractor trailer delivering fruit to grocery store
fiber being woven into fabric
Which is not an example of distribution?
cargo ship transporting goods from China to USA
shopper buying groceries at store
factory manufacturing cell phones
train carrying coal from West Virginia to Oklahoma
A technique to persuade consumers to buy a product is...
advertising
barter
profit
investing
What is a way of exchanging goods and services without using money?
inflation
market
revenue
barter
The struggle among producers for consumers to buy their product or service is known as...
recession
competition
inflation
barter
What is used as means of exchange in the marketplace that includes paper bills and metal coins?
barter
revenuw
currency
profit
What is in the increase in prices over time in a growing economy ?
inflation
profit
interest
revenue
An organized way for producers and consumers to buy and sell goods and services is known as...
stocks
the market
a factory
nonprofit organization
What is used as the most common means of exchange in the market?
bills
money
barter
stocks
What is a businesslike institution the does not seek to make a profit?
a store or business
the stock exchange
stock market
nonprofit organization
Which is not an example of a nonprofit organization?
a hospital
a church
a school
a business
Choose the two nonprofit organizations from the list.
Lehigh Valley Health Network
Northwestern Lehigh School District
Walmart
The Bagel Bunch
Duck Donuts
Which level of industry collects resources from nature?
primary
secondary
tertiary
quaternary
Choose the two examples of primary industry.
mining for coal
making ice cream at a dairy
advertising in a magazine
cutting trees in a forest
teaching students in a classroom
Money a company has leftover after subtracting the cost of doing business is known as...
revenue
profit
What level of industry focuses on research, information, and new inventions?
primary
secondary
tertiary
quaternary
A decline in economic growth for six or more months in a row is...
inflation
a recession
Money earned by selling goods is known as...
profit
revenue
What level of industry uses raw materials to create new products?
primary
secondary
tertiary
quaternary
Which is NOT an example of secondary industry?
farming
assembling a Mack Truck
a cereal factory
A business that concentrates on making a limited number of goods or that provides a specific service is an example of...
profit sharing
specialization
a tertiary industry
inflation
Which level of industry provides services to people and includes distribution of goods?
primary industry
secondary industry
tertiary industry
quaternary industry
Which is not an example of a tertiary industry?
a lawyer
a college professor
a farmer
a doctor
The lack of jobs due to a lack of demand for goods and services is known as...
higher education
unemployment
inflation
specialization
What phrase is associated with the primary industry?
Take It!
Make It!
Deliver and Sell It!
Design or Create It!
What phrase is associated with the secondary industry?
Take It!
Make It!
Deliver It and Sell it!
Design and Create It!
What phrase helps you remember the tertiary industry?
Make It!
Take It!
Design and Create It!
Deliver and Sell It!
