Name _________ _ _________ _________ ___________________ __ Date _____________ Econom mics Assesssment Part I: Multiple M Cho oice 1. The sttudy of economics is im mportant beecause it en nables us to:: (A A) describe our standard of living g (B B) increase our consum mption of co onsumer go oods (C C) become better decission makerss (D D) determin ne what goo ods ought to t be produ uced he decisionss of what, h how, and fo or whom to o produce aare 2. In a command ecconomy, th made by y (A) The T governm ment (B) Tradition T (C) Consumers C (D) Private comp panies 3. Which h person he elps to prov vide goods rather than n services? (A A) teacher (C) farmerr (B B) doctor (D) waitreess 4. Examples of natu ural resourcces are (A A) factoriess, good roa ads, and a la arge populaation (B B) soil, fore ests, and minerals (C C) automo obiles, dairy farms, and d governmeents (D D) stores, chemical c co ompanies, and clothingg factories 5. The th hree homess shown bellow are fou und in differrent regions of the wo orld.
The builders probab bly chose to o construct these housees differently because tthe builderss had (A A) different natural reesources ava ailable to th hem (B B) differentt ideas of what w was beeautiful (C C) different amounts of o space in their homees (D D) differen nt amounts of o money to t spend