WorksheetsCh. 10: Shaping America's Economy
Total questions: 35
Worksheet time: 9hrs 45mins
Someone who makes goods or provides services
(a)
a tax on goods from other places
(a)
A skill or knowledge in one job
(a)
A type of economy where people decide what to buy and sell
(a)
How much of a good or service is available to buy at all prices
(a)
A small payment that is added for borrowed money (if you get a loan from the bank)
(a)
The amount of a good or service that people will want at all prices
(a)
Someone who buys goods and services
(a)
Which following statements are true about a free market economy?
Prices are chosen by the government.
Prices change because of supply and demand.
The government tries to control the economy through taxes.
All of these answers are correct
What is the main role that producers play in our economy?
They create goods.
They buy services from others.
They borrow money.
They control trade
When do prices fall?
When there is a surplus
When demand is higher than supply
When demand is lower than supply
All of these answers are correct
Alexander Hamilton and Thomas Jefferson had different opinions on the government and economy. How did George Washington respond?
He put Hamilton in charge of the Treasury
He gave the government little power in the economy
He chose not to have a free market economy
He took control of the economy
What part of the government is responsible for collecting taxes?
Army
Senate
Treasury
Supreme Court
The Constitution gives the government the ability to do what?
Create Money
Borrow Money
Make laws about trade
All of these answers are corrects
Which of the following is an example of specialization?
NBA Basketball players
People's ideas are protected under the law
The Treasury prints money for people to use
Prices rise when demand increases.
The Constitution gives people the right to do what?
Choose what they want to do for a job
Avoid paying any taxes
Use electricity in cities in the United States
Maintain an isolated market
The Treasury can coin money to be used in all of the states protects which part of the economy does this article protect?
Trade
Business
Money
The national government can make laws about trade between states which part of the economy does this article protect?
Trade
Business
Money
The government cannot take land, a building, or goods away from a business. Which part of the economy does this article protect?
Trade
Business
Money
The national government can set tariffs for trade with other countries. Which part of the economy does this article protect?
Trade
Business
Money
The Constitution prevents states from taxing the imports of other states. Which part of the economy does this article protect?
Trade
Business
Money
People can submit patents for the things they invent and sell. Which part of the economy does this article protect?
Trade
Business
Money
The government can borrow money and pay it back with interest. Which part of the economy does this article protect?
Trade
Business
Money
States cannot put tariffs (taxes) on each other’s goods and services. Which part of the economy does this article protect?
Trade
Business
Money
This article gives people the right to choose what they want to do for a job
Trade
Business
Money
Under the articles the government can collect taxes to pay for services and pay back debts
Trade
Business
Money
In the month of December, sunscreen goes on sale for 50% off the price it sells for in July. What is the supply and demand for sunscreen?
High Demand, Low Supply
Low Demand, High Supply
During the holiday season the most popular toy increases in price because many kids want it. What is the supply & demand for the popular toy?
High Demand, Low Supply
Low Demand, High Supply
A shoe store is having a sale on all of last year’s shoe styles. What is the supply & demand for last year’s shoes?
High Demand, Low Supply
Low Demand, High Supply
The newest book in a very popular series has just been released, and your bookstore only receives a few copies. The price of the book increases. What is the supply & demand for the new book?
High Demand, Low Supply
Low Demand, High Supply
A person who goes to the mall and buys a purse is a:
Producer
Consumer
Good
Service
Someone who makes Youtube content for a living is a:
Producer
Consumer
Good
Service
Getting your haircut at the barbershop is an example of a:
Producer
Consumer
Good
Service
The Nintendo Switch is an example of a:
Producer
Consumer
Good
Service
Look at the list of some of the clauses under Article 1, Section 8 of the Constitution. Which clause would be most important for someone who just invented a new social media app? Explain why
