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Unit 6: Economics Unit Review

Total questions: 51

Worksheet time: 30mins

Name
Class
Date
1.
Read the following two statements:
***People want more things than they have money to buy.
***The goods and services a society can produce at any one time are limited.
What problem results from these two conditions? 
a)
Imbalance of Power 
b)
Scarcity
c)
Excessive Wealth
d)
Opportunity Cost
2.
Which describes a society with a traditional economy? 
a)
Is is based on doing things the way they were done in the past.
b)
It is located in a large urban area.
c)
It is organized in a large urban area.
d)
It is heavily dependent on industry.
3.
What is the central characteristic of a market economy.
a)
Government owns the means of production.
b)
All wage earners are paid identical amounts.
c)
The existence of labor unions is prohibited.
d)
Business owners are motivated by a desire for profit.
4.
What do the command economies of Cuba and North Korea have in common? 
a)
They prohibit government ownership of property.
b)
Everyone enjoys maximum economic freedom.
c)
Government answers the fundamental economic questions. 
d)
Private ownership of property is strongly encouraged.
5.
What effect does competition have on producers in a market economy?
a)
Producers share their resources equally.
b)
Producers look to the government to divide resources.
c)
Producers improve the quality of their goods to increase sales.
d)
Producers raise prices since they expect to sell fewer items.
6.
In a traditional economy, how is information about the way goods are made passed from one generation to the next?
a)
By the family.
b)
Through the legal system.
c)
By the public schools.
d)
Through government orders.
7.
What is the role of the government in a command economy?
a)
It has little to say in which goods are produced.
b)
It does not influence which services are offered.
c)
It guarantees that consumers will earn a high income.
d)
It makes the most important economic decisions. 
8.
Three statements are shown:
1. The desire for profits drives people to risk their time and resources.
2. Producers determine the supply of a product.
3. Consumers determine the demand for a product.
Which type of economy do these features describe? 
a)
A traditional economy.
b)
A mixed economy.
c)
A market economy.
d)
A command economy.
9.
Two pictures are shown.
What do these two images have in common?
a)
They show farmers working in highly industrial economies.
b)
The farmers are working in traditional economies.
c)
These are government employees working on farms.
d)
The farmers are using modern agricultural methods.
10.

Being affected by the decisions or events your trading partners are involved in because you rely on them.

a)

Opportunity Cost

b)

Trade

c)

Scarcity

d)

Interdependence

11.

How much of a good or service is available AND how much people want it. (The more people want it, the more they'll pay for it.)

a)

Scarcity

b)

Specialization

c)

Supply and Demand

d)

Standard of Living

12.

Buying, selling, or exchanging goods or services.

a)

Trade

b)

Opportunity Cost

c)

Interdependence

d)

Scarcity

13.

The kind of resources that are provided by Earth - like water, air, soil, solar energy, etc.

a)

Natural Resource

b)

Capital Resource

c)

Human Resource

14.

Goods that are used by people to make other goods or to perform services. This can also include money invested towards making new goods or providing new services. (Examples: tools, machines, buildings, investments)

a)

Natural Resource

b)

Capital Resource

c)

Human Resource

15.

Not being able to have all of the goods and/or services that you want because people have endless wants, but goods and services aren't endless. So people are forced to make choices.

a)

Scarcity

b)

Trade

c)

Standard of Living

d)

Human Resources

16.

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

17.

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

18.

What type of economy does the United States have?

a)

traditional

b)

mixed

c)

command

d)

market

19.

Basic things humans need to survive

a)

want

b)

import

c)

need

20.

Extras that make life more enjoyable

a)

need

b)

want

c)

savings

21.

a good made in another country and brought into the United States

a)

import

b)

export

c)

supply

22.

A good made in the United States and sent to other countries

a)

import

b)

export

c)

supply

23.

Actions that people do for others

a)

goods

b)

services

c)

supply

24.

What is supply?

a)

the amount of an item you have

b)

how many people want your good/service

c)

the money you have left over after you paid your bills

25.

What is demand?

a)

the amount of an item you have

b)

how many people want your good/service

c)

the money you have left over after you paid your bills

26.
Type of Economy that is half command and half market
a)
Traditional
b)
Command
c)
Market 
d)
Mixed
27.
What is consumption?
a)
How a good is moved
b)
How a good is created
c)
How a good is used
d)
How a good is destroyed
28.

What do you call the tools and equipment needed to create a good or service?

a)

Capital Resources

b)

Human Resources

c)

Land Resources

d)

Entrepreneurial Ability

29.
The Silk Road was what?
a)
One road that was the color of silk. 
b)
A network of roads used for trading.
c)
A road that only silk was traded on.
d)
The name of the first road in Asia. 
30.
Which is the most important fact that makes the Silk Road significant to history ?
a)
It brought Silk to Europe.
b)
Marco Polo used the Silk Road.
c)
It was one on the first times Europe and Asia were connected and products and cultures were exchanged.
d)
It was so long ago. 
31.
Fill in the blank.  China _________ silk to Europe.
a)
imported
b)
explored
c)
implored
d)
exported
32.

The Silk Road was important because

a)

it helped the Han empire control the Mediterranean region

b)

it extended a thousand miles across Asia

c)

it linked Asian and western cultures for more a thousand years

d)

it connected the Han and Egyptian empires

33.

The silk road starts in

a)

Wakanda

b)

China

c)

India

d)

Egypt

34.

Rome had a strong army because they organized themselves in

a)

legions

b)

calendarium

c)

navies

d)

punic

35.

Who sent troops to invade Rome during the Punic

Wars?

a)

Visier

b)

Centuries

c)

Carthage

d)

Tailgaters

36.

How many Punic Wars were there?

a)

1

b)

2

c)

3

d)

4

37.

After the Punic Wars - Rome

a)

lost territory

b)

gained territory

c)

lost power

d)

gained control of Autrailia

38.

The Punic Wars was a war between

a)

Rome and Greece

b)

Rome and Carthage

c)

Greece and Egypt

d)

Rome and Persia

39.
What was the name of the general who led the Carthaginians through Europe and attacked Rome from north?
a)
Scipio
b)
Hamilcar
c)
Leonidias
d)
Hannibal
40.
Where was Carthage located?
a)
North Africa
b)
Asia Minor
c)
Greece
d)
Italy
41.

Which was the major cause of the Punic Wars?

a)

The Carthaginians killed a Roman senator

b)

Rome wanted Sicily so that they can control more of the trade in the Mediterranean

c)

The expansion of Macedonia caused the Romans to want more territory so that they could be stronger

d)

Julius Caesar became the dictator and wanted to take over the world

42.
After the Punic Wars, Rome's territory ____.
a)
Almost tripled in size!
b)
Lessened greatly
c)
Stayed the same size
d)
Grew just a little
43.
What was one major benefit of living near the Mediterranean Sea
a)
winters were always very cold
b)
it was easy to get invaded
c)
it helped facilitate trade
d)
the sea was too rough for foreigners to navigate
44.

Which of the following were items traded between Europe and West Africa?

a)

Gold

b)

Salt

c)

Silver

d)

Potatoes

45.

What were the major goods traded on the Trans-Saharan Trade route?

a)

Gold and slaves

b)

Iron and slaves

c)

Gold and salt

d)

Iron and gold

46.

What city became a major center for Muslim art, literature, and science?

a)

Ghat

b)

Tripoli

c)

Alexandria

d)

Timbuktu

47.

What do we call a group of camels and humans traveling with goods to sell?

a)

a fief

b)

a republic

c)

a caravan

d)

a plateau

48.

Which of the following is an accurate statement about cultural diffusion?

a)

Cultural diffusion spreads ideas, knowledge, and goods.

b)

Cultural diffusion no longer takes place today.

c)

Cultural diffusion occurs only within one culture.

d)

Cultural diffusion happened only along the Silk Road.

49.
How did the growth of trade in West African kingdoms impact Islam?
a)
Islam lost supporters as the religion lost cultural importance.
b)
Islam spread as people from the Middle East refused to trade.
c)
Islam lost supporters as West African kingdoms conquered the Middle East.
d)
Islam spread as the trading networks grew.
50.

What leader traveled from Mali to the city of Mecca. He went for religious reasons and to bring publicity to his empire. He took hundreds of soldiers and thousands of servants, dressed in silk. Plus about a hundred camels, all carrying saddlebags of gold.

a)

Mansa Musa

b)

Genghis Khan

c)

The Sultan of Egypt

d)

Siddhartha Gautama

51.

What animal was the most useful in the exchange of gold, silk, and salt accross the desert?

a)

Camel

b)

Horse

c)

Elephant

d)

Alpaca

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