Social Studies Grade 8
Quiz
•
Social Studies
•
8th Grade
•
Hard
Andrine Tulloch-Francis
Used 192+ times
FREE Resource
21 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
All the following are characteristics of Insurance Companies EXCEPT:
Executor function
Risk-oriented
Pay Claims
Bi-Lateral agreement
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
John and Mary Johnson want to purchase a house because they have recently started their family. Which economic institution would be MOST ideal for the Browns to transact this business?
Building Society
Credit Union
Bank
Insurance Company
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Karen was in an accident and now she wants to make a claim of 2 million dollars to assist with her expenses. Which economic institution would she complete her transaction?
Bank
Credit Union
Insurance Company
Building Society
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
________________________ is an example of a Building Society in Jamaica.
Sagicor
Victoria Mutual
Scotia
N.C.B.
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which of the options below BEST define an economic institution?
Economic Institutions describe a range of activities in which individuals, groups, organizations engage to satisfy their wants and needs.
Economic Institutions ensure that law and order is maintained in society.
Economic Institutions ensure that social and political needs are met.
Economic Institutions describe a range of activities that meet economic needs.
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which institution would the following transactions take place purchases goods and services and do transaction at a bank ?
Social
Political
Economic
Educational
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
All the following are benefits of Informal Institutions EXCEPT:
Allows individuals to get money without hassle
Taxes are deducted from sum of money received
No long wait in lines
There is a flexible payment plan
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