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Exchange of Goods & Services Review

Teacher Scott 15 questions

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Questions in this quiz (15)

  1. 1Label the consumer and the seller.Image for question 1
    1. Aconsumer
    2. Bseller
  2. 2A student has a big beef steak, but really wants to eat chicken instead.
    A farmer has a lot of chickens, but has been wanting beef steak for a long time.
    The student gives the farmer the beef steak and the farmer gives the student a chicken.

    What's the best word to describe what they did?
    1. Aresources
    2. Bexchange
    3. Cproduction
  3. 3Which picture shows a producer?
    1. AmailmanImage for option A
    2. BlogsImage for option B
    3. CPotterImage for option C
  4. 4There are two types of exchange. What are they? (circle two answers)
    1. Aexchange of goods & services with a smile.
    2. Bexchange of goods & services using money.
    3. CExchange of goods & services with a handshake.
    4. DExchange of goods & services without using money.
  5. 5If goods are too expensive (cost a lot), buyers will buy ____________ of them.
    1. Amore
    2. Bless
  6. 6Who is the buyer and who is the seller?Image for question 6
    1. Abuyer
    2. Bseller
  7. 7If sellers don't want to sell goods because the prices are too cheap, there will be a shortage (not a lot) of goods. This will make buyers want to buy at ______________ prices.
    1. Alower
    2. Bhigher
    3. Cthe same
  8. 8Choose the best definition for 'expensive':
    1. Acosts a lot
    2. Bdoesn't cost a lot
    3. Ccosts the same as
  9. 9A buyer cannot be a consumer.
    1. ATrue
    2. BFalse
  10. 10A producer can also be a seller.
    1. ATrue
    2. BFalse

Information

Description
Review for economics test.
Language
English
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