This is an AMAZING 27 question test that covers A LOT of Economic standards! It covers questions for Georgia Performance Standards:
SS3E1 The student will describe the four types of productive resources:
a. Natural (land) , b. Human (labor), c. Capital (capital goods), d. Entrepreneurship (used to create goods and services)
SS3E2 The student will explain that governments provide certain types of goods and services in a market economy and pay for these through taxes and will describe services such as schools, libraries, roads, police/fire protection, and military
SS3E3 The student will give examples of interdependence and trade and will
explain how voluntary exchange benefits both parties.
a. Describe the interdependence of consumers and producers of goods and services.
b. Describe how goods and services are allocated by price in the marketplace.
c. Explain that some things are made locally, some elsewhere in the country, and some in other countries.
d. Explain that most countries create their own currency for use as money.
SS3E4 The student will describe the costs and benefits of personal spending and saving choices.
The test has:
4 questions for SS3E1 (3 multiple choice and 1 free response)
4 questions for SS3E2 (4 multiple choice)
10 questions for SS3E3 (9 multiple choice and 1 free response)
8 questions for SS3E4 (3 multiple choice and 5 free response)
Answer key is included!