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Worksheets

Ch 2 Review

Total questions: 10

Worksheet time: 5mins

Name
Class
Date
1.

What type of Economy does the US have?

a)

Mixed

b)

Bartering

c)

entirely command

d)

entirely market

2.

Natural Resource become factors of production when

a)

they are used to produce goods

b)

as soon as they are discovered

c)

as soon as they are invented

d)

only if nothing else is available

3.

An example of a capital resource would be

a)

coal

b)

an ice cream truck

c)

the president

d)

a banker

4.

Skilled, unskilled, physical or intellectual are used in this chapter to describe what type of resources?

a)

natural

b)

capital

c)

library

d)

human

5.

An example of a capitalist country is

a)

cuba

b)

sweden

c)

japan

d)

china

6.

What are raw materials from nature that are used to produce goods?

a)

natural resources

b)

human resources

c)

the earth

d)

scarcity

7.

The amount of goods and services that producers will provide at a various price.

a)

demand

b)

supply

c)

product

d)

goods

8.

A system in which economic decisions are made in the marketplace according to the laws of supply and demand

a)

command economy

b)

mixed economy

c)

market economy

d)

macro eonomy

9.

The study of how society chooses to use resources to produce and distribute goods and services

a)

micro economics

b)

macro economics

c)

economics

d)

geology

10.

The resources used to produce goods and services

a)

factors of production

b)

scarcity

c)

demand

d)

economics