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- 1. Multiple Choice
Which of these things is a "need" and not a "want"?
shoes to keep your feet warm & protected
a really nice house/apartment to live in
going to an elite college or prep school
a smartphone with data/internet access
- 2. Multiple Choice
Economics is the study of economies, or, how people in a society get...
trade goods
products and services
work and income (money)
mediums of exchange
- 3. Multiple Choice
Which of these could be a medium of exchange?
gold coins & paper money
specific products like salt
decorative shells & beads
all these things
- 4. Multiple Choice
In all human societies, barter-based economies were eventually replaced by economies that used these...
coins made from precious metals
slaves & slave labor
advanced agriculture & engineering
mediums of exchage
- 5. Multiple Choice
In the earliest human societies, most groups of people...
were economically self-sufficient
were economically interdependent
were controlled by strong governments
were involved in large-scale agriculture/farming
- 6. Multiple Choice
Which of these is NOT one of the characteristics of all civilizations?
organized religion
cities & towns
written language
coined money
- 7. Multiple Choice
A skilled artist trading their art for some/all of the things they need is an example of...
self-sufficiency
mediums of exchange
specialization
civilization
- 8. Multiple Choice
In a "free market" economy, the prices of most things are determined by...
supply & demand
government laws & rules
written contracts
the producers of products
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