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WorksheetsEconomics
Total questions: 20
Worksheet time: 10mins
Economy would include all of the following words EXCEPT
Money
Business
Culture
Banks
What is a synonym for producing?
taking
making
erasing
selling
What is a synonym for distribute (in economics)?
turn off
create
take
sell
What is a consumer?
someone who buys something
someone who sells something
a person who lives in extreme wealth
someone who sleeps a lot
Which of the following is an example of a GOOD?
getting your nails done at a salon
going to school
getting a a haircut
a basketball
Which of the following is an example of a service?
buying a new backpack from the store
a doctor performing your annual checkup
getting bread from your local bakery
purchasing a new desk for your home office
The agricultural industry has to do with -
designing buildings
selling items at the local mall
land; raising crops and livestock
making items in a factory
Which of the following is a product that comes (at least in part) from the agricultural industry?
meat from cows
chicken eggs
a cotton t-shirt
All of these
Manufacturing has to do with -
making goods in a factory.
selling things out of your house
online businesses
selling food at a farmer's market
Wholesale is -
the cultivation of land and raising animals
selling goods at low cost in small quantities
sale of goods individually or in small quantities
sale of goods in LARGE quantity to retailers
An example of a retail store would be
Forever 21
HEB
Macy's
All of these are retail stores
In a free enterprise economic system,
individuals cannot determine the price of the products
the government is heavily involved
individuals are allowed to own their own business
individuals are NOT allowed to open their own business
Another name for free enterprise is -
command
capitalism
non free market
unlimited
The United States has a free enterprise economic system.
True
False
In a command economic system, all means of production are owned by the -
individuals
government
people
village elders
In a command/communist economic system, private property does not exist.
True
False
Cuba, China and North Korea have a command/communist type of economy.
True
False
Another name for a command economy is -
communist or NON-free market
free enterprise
capitalism
limited
Canada and the U.S. have very different economic systems.
True
False
Socialism is an economic system where all means of production are owned by the -
public
wealthy
government
village elders
