Lesson 6-10 Assessment

_______ are tangible things that can be made or grown.

• Services

• Scarcity

• Demand

• Goods

In a market economy, __________________ controls the production and sale of goods and services.

• Supply and Demand

• Goods and Services

• Government and Economics

• Urbanization and Globalization

If a new video game is coming out and only a few will be sold, the price of the video game will be ______.

• high

• low

• zero

• crazy

Having someone mow your lawn is an example of a _____________.

• Service

• Good

• Price

• Scarcity

Why would some countries be at an advantage for trading?

• They have resources and skills that other countries desire

• All countries are equal with trade

• Trade hurts every country

• They import more goods

What is an export?

• sending your goods to another place for trade

• receiving goods from another place

• buying and selling locally

• always bad for the economy

What is an import?

• Buying or bringing in goods from another country

• Selling or sending goods to another country

• selling anything

• all types of trade

What is international trade?

• Trade across country borders

• trade between producers and consumers of the same country

• trade free of barriers

• trade within the same town

Which branch of government creates the laws?

• Legislative Branch

• Executive Branch

• Judicial Branch

• no one

What does the Executive Branch do?

• Carries out the laws

• monarchy in which the power of the hereditary ruler is limited by the country's constitution and laws

• controls the government by religious leaders

• decides if laws are carried out fairly