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economics

Total questions: 12

Worksheet time: 2mins

Name
Class
Date
1.
Economic System where there is limited technology and ideas are passed down from generation to generation
a)
Command
b)
Traditional
c)
Mixed
d)
Market
2.

What is a producer?

a)

a person who gives goods away

b)

things people would like to have

c)

the exchanged of goods and services without the use of money

d)

a person, company, or country that makes grows, or supplies goods for sale

3.

What is a consumer?

a)

a person who takes things

b)

a person who purchases goods and services for personal use

c)

a person who takes good away

d)

the economic factors affecting the price, demand, and availability of a commodity

4.

A farmer would fall under which economic activity?

a)

Primary

b)

Secondary

c)

Tertiary

5.

____________ economic activities add value to raw materials by processing them or changing their form. Ex: wood being made into tables/furniture

a)

Primary

b)

Secondary

c)

Tertiary

6.

Basic things humans need to survive

a)

want

b)

import

c)

need

7.

Extras that make life more enjoyable

a)

need

b)

want

c)

savings

8.

Actions that people do for others

a)

goods

b)

services

c)

supply

9.
Trading something for something else - no currency involved
a)
demand
b)
barter
c)
goods
d)
market
10.
What are the 3 basic economic Questions all economies must answer:
a)
Who? What? When? Where?
b)

Place ,date,,money

c)
What to produce? How to produce? For whom to produce?
11.

Who is known as the Father of Economics?

a)

Adam john

b)

Adam James

c)

Adam Rich

d)

Adam smith

12.

Gandhi ideas are there in

a)

Hindi Swaraj

b)

Ahima Swaraj

c)

HIndi ka swarajikiyam

d)

Hind Swaraj