Bm 3 Review Part 1

12 Questions | Total Attempts: 53

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Bm 3 Review Part 1 - Quiz

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Questions and Answers
  • 1. 
    “They are really better to us than we are to them.  They always give us food at their quarters, and take care we are protected against hunger and thirst.  We do not go by them (generally speaking) but let them walk by our doors hungry, and do not often help them.  We think them little better than beasts in human shape; though, if well examined, we shall find that for all our religion and education we possess more evils than these savages do.”What is this colonist’s point of view?
    • A. 

      Indians are not to be trusted.

    • B. 

      Colonists need to move closer to their religion.

    • C. 

      Indians are not much more than savage beasts.

    • D. 

      Colonists do not treat Indians fairly.

  • 2. 
    People make, sell, and buy goods.  Goods are products you can touch.  Shoes are goods.  Hot dogs are goods.  Goods are an important part of economic activity.Check all goods:
    • A. 

      Computers

    • B. 

      Haircuts

    • C. 

      Yo-Yos

    • D. 

      Basketball balls

    • E. 

      Doctor visit

    • F. 

      Sector 6 field trip

  • 3. 
    A baker is a _________ of bread, cakes, and other baked goods.
    • A. 

      Producer

    • B. 

      Consumer

  • 4. 
    A business that makes and sells clothing takes part in _______
    • A. 

      Price

    • B. 

      Economy

  • 5. 
    All of the following describe a market EXCEPT:
    • A. 

      Christmas shopping at the mall

    • B. 

      A nail salon

    • C. 

      Amazon.com

    • D. 

      People working at a lawyer’s office

  • 6. 
    Cabella’s is a sports store where you can get a special brand of bait that catches a special kind of fish.  The closest store is in Baton Rouge.  Why might a fisherman from New Orleans drive all the way to Baton Rouge to go to Cabella’s?
    • A. 

      To look at the scenery along the way

    • B. 

      To find new lakes to fish in

    • C. 

      Because he needs the bait and Baton Rouge is the closest place to find

    • D. 

      Because he likes driving

  • 7. 
    All of the following are an example of a market EXCEPT:
    • A. 

      Going to a snowball stand for a snowball

    • B. 

      People going to work at a bank

    • C. 

      A beauty supply store

    • D. 

      Going to Wal-Mart

  • 8. 
    Jenna has saved $50.  She wants to buy new shoes that cost $50.  She also wants to have spending money when she goes to an amusement park.  Jenna decides to buy the shoes.  What will Jenna give up by making this choice?
    • A. 

      Time to spend with friends

    • B. 

      Time to wear the new shoes

    • C. 

      Money to buy video games

    • D. 

      Money to spend at the amusement park

  • 9. 
    Emily has a business making birthday cards.  She has to buy paper, pencils, paint and more to make her cards.  She spends $300 to make one hundred cards.  She sells all three hundred cards for $5 each.  Emily makes $1500.  After she subtracts the $300 it cost her to make the cards, Emily has $1200 left.  Emily’s profit is $________
  • 10. 
    All of the following resulted from Henry Ford’s use of the assembly line EXCEPT?
    • A. 

      Cars could be built cheaper

    • B. 

      People would be better at their jobs

    • C. 

      Cars could be built faster

    • D. 

      Less cars were made

  • 11. 
    ABC Toys is not making money. They decide to use an assembly line. What would be most likely happen at ABC Toys when they start using an assembly line?
    • A. 

      People would get paid less.

    • B. 

      There would be more goods produced in less time.

    • C. 

      Not as much work would get done and it would cost more money.

    • D. 

      Employees would have less fun at work.

  • 12. 
    Supply and Demand. Remember. Supply is opposite of Demand, Demand = PriceAn early freeze has killed many lemons.  How has the supply or demand for lemons changed?
    • A. 

      Supply of lemons will increase

    • B. 

      Supply of lemons will decrease

    • C. 

      Demand of lemons will increase

    • D. 

      Demand of lemons will decrease

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