Econ Introduction G7 Midterm
Authored by Kait Kait)
Social Studies, Other Sciences, Specialty
7th Grade
Used 1+ times
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25 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
________is when we trade one thing for another without using money.
borrow
money
barter
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which choice best describes the economic problem of scarcity in the world?
People have limited wants there is an unlimited amount of resources.
People have unlimited wants but there is a limited amount of resources
People have no wants so resources don't matter
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following are examples of goods?
Apples, Computers, Clothing
Firemen, Police Officers, Soldiers
Health, Love, Friendship
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following are examples of services?
Apples, Computers, Clothing
Firemen, Police Officers, Soldiers
Health, Love, Friendship
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of economy allows the government to determine what to produce, how to produce it, and who gets it?
Command Economy
Market Economy
Traditional Economy
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of economy allows past customs and family tradition to determine what to produce, how to produce it, and who gets it?
Command Economy
Market Economy
Traditional Economy
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of economy allows people to freely decide what to produce and how to produce it and people get or buy what they can afford?
Command Economy
Market Economy
Traditional Economy
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