Social Studies - Chapter 4 - Economics and Vocabulary Quiz

Social Studies - Chapter 4 - Economics and Vocabulary Quiz

4th Grade

20 Qs

quiz-placeholder

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Social Studies - Chapter 4 - Economics and Vocabulary Quiz

Social Studies - Chapter 4 - Economics and Vocabulary Quiz

Assessment

Quiz

Social Studies

4th Grade

Easy

Created by

Quizizz Content

Used 12+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is true about a command economy?

People decide prices

Prices are set by the government

You can sell anything, anytime

You trade without money

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens when lots of people want something but there isn’t much of it?

Prices go down

The product disappears

Prices go up

Everyone gets one for free

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Choose the best meaning for the term 'Market Economy'.

People make choices about buying and selling

The government sets all prices

There is no money

People must share everything

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Choose the best meaning for the word 'Producer'.

A person who buys goods

A person who makes goods or services

A person who uses money

A person who fixes things

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Inflation is when prices go down a lot.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does it mean to export goods?

To buy things from another country

To keep all products at home

To send goods to other countries to sell

To trade without using money

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Choose the best meaning for the word 'Profit'.

The amount of money you lose

Money earned after paying costs

The price of a toy

A shopping receipt

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