Economy Quiz

What is an economy?

• A system where only goods are produced

• A system where only services are consumed

• The way goods and services are produced and consumed

• A method to avoid financial responsibility

Can you avoid being part of the economy?

• Yes, by not using money

• Yes, by not worrying about it

• No, everyone is involved by producing or consuming goods and services

• No, only if you live on an isolated island

What is the name of the simulation game you are going to participate in?

• Marketland

• Econoworld

• Econoland

• Simulatormarket

How many kinds of markets does the simulation involve?

• One

• Two

• Three

• Four

Which of the following is NOT one of the markets involved in the Econoland simulation?

• Product market

• Resource market

• Stock market

• Service market

How many groups will the class be divided into for the game?

• 1

• 2

• 3

• 4

What will students in group 1 represent?

• Households

• Governments

• Businesses

• Banks

How many $100 dollar bills will each business get?

• 5

• 10

• 15

• 20

What will students in group 2 represent?

• Businesses

• Households

• Governments

• Banks

How many resource cards will each household get?

• 10

• 15

• 20

• 25