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WorksheetsChapter 4 Quiz
Total questions: 10
Worksheet time: 50mins
Which best explains what causes someone to become a consumer?
A person needs or wants something.
A person has spent time deciding what to purchase.
A person wants to make money by selling something.
A person has made something and wants to share it with others.
Bartering is __________.
the type of money used in a particular place
the profit that a business earns over a period of time
the exchange of one type of good or service for another
the risk an entrepreneur takes when starting a new business
Which is an example of technology impacting global trade?
Car parts are produced and assembled in the same place.
Modern cargo ships can hold fewer goods than in the past.
Companies use e-mail to communicate across great distances.
Products from a country can be found more cheaply at local businesses.
A rise in the usual price of many goods and services is called ______
barter
consumer
producer
inflation
Type of money used in a particular place
inflation
consumer
currency
producer
a person or a company who buys a good or service is known as _______
currency
consumer
inflation
producer
Being part of an economy involves choices.
True
False
a person or a company who makes a good or service to sell to others is known as _________________
producer
inflation
currency
consumer
things that people must have in order to survive
needs
wants
opportunity cost
scarcity
material from Earth needed to make goods and services
land
labor
capital
entrepreneur
