Economics 101 - Vocabulary Update

Economics 101 - Vocabulary Update

4th - 5th Grade

10 Qs

quiz-placeholder

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Economics 101 - Vocabulary Update

Economics 101 - Vocabulary Update

Assessment

Quiz

Social Studies

4th - 5th Grade

Medium

Created by

Debbie Adare

Used 3+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A need is...

something you want to have because it's cool.

something you must have to survive.

something your mother wants you to have.

something that grows on a tree.

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Examples of goods are...

movies, taxis, nannies, and doctors.

candy, ice cream, pizza and donuts.

cars, bananas, phones, and eye glasses.

marks of 80% or higher.

3.

MULTIPLE SELECT QUESTION

1 min • 1 pt

Check off all the goods produced in Kuwait. (You may need to check more than one answer.)

ships

petrochemicals

oil

lettuce in green houses.

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Importing means...

to sail across the ocean.

to send goods out of a country.

to bring home dinner.

to bring goods into a country.

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Exporting means...

to send your children to school in Canada.

to send goods out of a country.

to drive your nanny home.

to bring goods into a country.

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When one country buys goods from another country, that is called...

barter.

trade.

good business.

nationalism.

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

I have lots of forests but I can't make paper. You make paper but don't have a lot of trees. So, we trade the wood from the forest for paper. This is an example of...

poor planning.

interdependence.

supply & demand.

economies of scale.

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