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WorksheetsSocial Studies Chapter 4
Total questions: 20
Worksheet time: 21mins
Match the correct word or phrase in the correct
spot in the graphic organizer.
Video games
Shoes
Trumpet lessons
Babysitting
Which idea BEST completes the Venn diagram? What goes in BOTH (the middle)?
offer services
produce goods
consume goods and services
produce and consume goods and services
A woman who owns a business in which the government sets the prices operates in a __________.
market economy
command economy
free enterprise system
private property system
What is another reason money is used instead of bartering in modern economies?
It is uniform.
It can be loaned by a bank.
It is important to our history.
Its value changed depending on inflation.
If the supply of a product is low and the demand for that product is high, then the price of the product will (a) .
The business may respond by increasing the supply, but if the supply becomes greater than the demand, the price of the product will (a) .
Which effect best completes the graphic organizer?
the business raises the price of the product
the business creates an entirely new product
the business decreases the supply of the product
the business keeps the price of the product steady
Which of the following describes a result, or effect, of scarcity?
Consumers pay less for a product.
Consumers see their incomes go down.
Consumers are faced with fewer opportunity costs.
Consumers are less likely to have their needs and wants met.
Read the passage. Then answer the question.
The Alvarez family was thinking of making a major purchase. They had not taken a vacation in a long time and wanted to go to Hawaii. However, they also needed to buy a new car. Their current car was falling apart and Ms. Alvarez needed to drive to work each day. They discussed it together and in the end, they bought the car.
Which statement best describes the economic choice the Alvarez family made?
The Alvarez family took a risk in order to save money.
The Alvarez family made a personal economic choice based on scarcity.
The Alvarez family had to consider the opportunity cost of the trip to Hawaii.
The Alvarez family had little incentive to buy the car, but they did so anyway.
A good that is shipped from the United States to another country and then sold there is called an (a)
A good that is brought in from another place and sold in the United States is called an (a) .
Which effect best completes the graphic organizer?
supply of the product decreases
demand for the product decreases
consumers purchase a smaller quantity of the product
consumers have more money to spend on other products
The difference between taking a guess and making a prediction is ________.
a guess is usually funny or humorous
a prediction is based on analyzing an image
a guess is informed by what you already know
a prediction is an educated guess based on certain clues
Which do you predict, based on the given clue?
a definition of the word satisfy
an analysis of global economics
examples of people's needs and wants
an explanation of how goods are transported to towns
What map detail is the strongest clue that the United States plays an important role in global trade?
the size of the United States
the number of trading partners
the labeled names of the trading partners
the coloring of the United States and its trading partners
Read the passage. Then answer the question.
Your school is doing a production of your favorite musical and you won the lead role! Being in the show requires three hours of rehearsal every school night and five hours of rehearsal every Saturday afternoon.
Which describes a cost of being in the school musical?
having less time to do all my homework
going to brunch with my family on Sundays
learning the words to the songs I sing in the show
spending time with my friends who are also in the show
Read the passage. Then answer the question.
Computer technology has completely changed the way the world does business. For example, companies can save money on group meetings. Instead of flying employees to different places to hold meetings in person, the meetings can be held “virtually” using computers and webcams. However, some workers do not like virtual meetings because they are not seeing someone “in the flesh.”
Another example is e-mail. Today, most workers send an e-mail instead of calling someone on the phone. E-mail is fast and cheap. E-mails, however, can be misunderstood. In an e-mail, you cannot see a person’s body language or hear the tone of their voice. Sometimes businesspeople send an e-mail but end up calling someone anyway!
Which describes a benefit of computer technology in the world of business?
Which describes a benefit of computer technology in the world of business?
misunderstanding someone's e-mail
saving money from flying people to meetings
using e-mail but having to call people anyway
not seeing someone "in the flesh" at a meeting
If the goal of a business is to make a profit, why doesn’t a business simply raise its prices to a high enough level so that it makes a lot of money? PICK THE 3 CORRECT RESPONSES.
If a business raises its prices too high, consumers may not be able to
afford the goods or services and not purchase anything at all.
Businesses are in
competition with other businesses. If a business raises its prices too high, another business
may lower their prices to attract customers.
Customers will go to the business with lower
prices, which might result in the business with higher prices closing down.
Customers will always pay high prices if the packaging is nice and the commercials are enjoyable.
Some economies are so large that they are divided into sectors. Each
sector has its own resources. Sort the resources.
Miners
Coal
Drills
Clay
Trees
Cows
Tractor
Building
Jewelry
Farmer
Factory worker
Factory
Seeds
Teacher
Specialization and the division of labor can lead to greater productivity. Division of labor and specialization means that work is divided among people and those people become very good at a particular job. When people work on just one part of a larger task, productivity (a) _. A company can produce more products in a shorter amount of time.
