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WorksheetsEconomics Unit Test
Total questions: 20
Worksheet time: 45mins
(a) is a term used to describe a very low supply.
A form of trade in which goods or services are traded for something other than money is called (a) .
A (a) is someone who MAKES or sells a product.
A (a) is someone who BUYS a good or service.
The amount of money that is left after all the overhead has been paid is known as the (a) .
To (a) means when the U.S. BUYS goods or services FROM another country.
To (a) means when the U.S. SELLS goods or services TO another country.
(a) is the money needed to run a business.
(a) is a building in which goods are made.
Henry Ford used all of the following materials in his factory EXCEPT _______________.
natural resources
robots
capital resources
human resources
Which of the following would be an example of a business that provides a SERVICE?
Grocery Store
Game Store
Restaurant
Clothing Store
If there is a HIGH demand for an item and a LOW supply, then the price will usually be ____________.
high
low
in the middle
The demand for a product would be LOW when ________.
consumers really want the product
the product goes on sale
the product is new and just came out
the product is from last year
The dependence of countries on one another is known as _________.
technology
exporting
interdependence
independence
Are you a producer, consumer, or both? Explain your answer
List 2 natural resources.
List 2 capital resources.
List 2 human resources in our community.
What is an entrepreneur? (use a complete sentence)
Why would someone become an entrepreneur? (Explain using a complete sentence)
