Social Studies Review

Vocabulary

100

What are goods? a. things you can buy/sell b. a really nice person c. people who make things

a. things you can buy/sell

200

What is a producer? a. Someone who makes the goods b. Someone who pays for a play c. Someone who eats the goods

a. Someone who makes the goods

300

What is a buyer or consumer? a. Someone who makes the goods b. Someone who sells the goods c. Someone who buys the goods

c. Someone who buys the goods

400

What is scarcity? a. When there is too much of something b. When there is just enough of something c. When there is not enough of something

c. When there is not enough of something

500

What is money? a. Bills or coins used to pay for things b. What you give in exchange for goods and services c. All of the above

c. All of the above

Vocabulary

100

What are services? a. people who serve food b. a job done to help others c. when you go to church

b. a job done to help others

200

What is a seller? a. Someone who sells the goods b. Someone who makes the goods c. Someone who buys the goods

b. Someone who makes the goods

300

What is bartering? a. Trading a good or service instead of paying money. b. Giving away goods you don't want any more c. Paying money for a good or service

a. Trading a good or service instead of paying money Long ago, people did not use money. Instead, they traded what they had for what they wanted or needed.

400

What is opportunity cost? a. Eating at a restaurant for free b. Giving up something in order to do/have something else c. Paying extra to have everything you want

b. Giving up something in order to do/have something else

500

What class is ready for this social studies test? a. Mrs. Hill's class b. Mrs. McDowell's class c. Mrs. Hoffman's class d. Mrs. Perigo's class e. Mrs. Hensley's class

e. Mrs. Hensley's class!!!!!