NEW
Font size
WorksheetsSocial Studies (Economics) Quiz
Total questions: 28
Worksheet time: 14mins
Which of the following is a need?
video game
food
smartphone
toy
Which of the following is an example of a natural resource?
tractor
water
factory
computer
What is a producer?
A person who buys goods and services
A person who makes or provides goods and services
A person who uses goods and services
A person who studies human capital
What does human capital refer to?
Machines used to make goods
Skills and knowledge people gain by learning and studying
Natural resources like plants and animals
The next best thing you give up
What is opportunity cost?
A decision you make
The next best thing you give up
Something good that happens because of a choice
A tool used to make goods
Which person is a consumer?
A farmer growing corn
A baker making bread
A girl buying a book
A worker building a chair
Which is an example of a capital resource?
Lettuce
A tractor
Planting seeds
A farmer
Studying hard in school is an example of:
Natural resources
Volunteering
Investing in human capital
Opportunity cost
Mia bought a notebook instead of a toy. Buying the notebook was her ________. The toy was her ________.
Trade-off; opportunity cost
Opportunity cost; choice
Decision; trade-off
Trade-off; decision
Which example shows how technology has changed capital resources?
Using a computer to research information
Planting a garden in the spring
Eating vegetables in the summer
Volunteering at a food bank
Read the sentence below: Sara planted seeds, watered them, and waited for them to grow. What is the main idea?
Seeds need water
Plants grow slowly
Sara followed steps to grow plants
Gardens are fun
Consumers are people who ________.
Make goods
Buy goods and services
Grow food
Provide services
How did communities change as businesses developed?
People stopped trading and only made things themselves.
People made everything they needed and never bought anything.
People were able to buy more goods and services as businesses grew.
People only bought goods from other countries.
Which example shows a natural resource being used to make a good?
Wool is used to make sweaters.
A hammer is used to build a chair.
A worker builds a table.
A truck delivers furniture.
What is one benefit of exporting goods?
Losing customers.
Gaining new customers.
Using fewer workers.
Making lower-quality products.
Which list includes only natural resources?
water, soil, trees.
plastic, metal, paper.
books, sunlight, cars.
vegetables, electricity, factories.
Which is an example of a human resource?
driving a delivery truck.
a delivery truck.
a grocery store.
a farm.
Which item is a capital resource?
a tractor.
corn plants.
a farmer planting seeds.
learning how to farm.
Which sentence includes a natural resource, a human resource, and a capital resource?
Maya bakes cookies and shares them with friends.
Omar uses milk, works in a bakery, and uses an oven to make bread.
Lina buys bread at the store.
Sam grows vegetables in his garden.
What is a trade-off?
Something you buy
Something you save
Giving up one thing to get another
Something you need to live
How are costs and benefits related?
They are the same thing.
A cost is what you give up, and a benefit is what you gain.
A benefit is money, and a cost is time.
Costs are wants, and benefits are needs.
Alex has money for a movie or a video game. He buys the movie ticket. What is the opportunity cost?
The movie ticket
The money
The video game
The theater
A family chooses to buy a new car instead of going on vacation. What can you conclude?
They think the car is more useful.
They do not like vacations.
They did not have any choices.
The vacation was free.
Which choice would result in the greatest benefit if you want to buy two items but do not have enough money?
Make a list
Borrow money
Earn extra money
Give up both items
What is one way to invest in your future?
Watching TV
Practicing skills and studying
Spending all your money
Playing games all day
Why is learning important?
It helps you earn money right away.
It prepares you for future jobs.
It is a trade-off.
It replaces work.
A student helps at a library after school. What is the student doing?
Using capital resources
Building human capital
Spending money
Making a trade-off
What do most successful people have in common?
They never made mistakes.
They stopped learning after school.
They continued to learn and improve.
They only worked one job.
