Were subsistence economies enough for modern humans?

No, since they provided needs but not wants.

Subsistence economies where non-monetary.

True because they did not use money.

Which is NOT an advantage to keeping a subsistence economy?

more advanced medical technology

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Intro to Economic Systems

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This is a way for 6th grade Social Studies students to study.

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Questions 15

Answers

1
What component of culture is "money?"
Technology
Traditions
Language
Values & Beliefs
2
What is extra money generated from a business called?
deficit
profit
capital
extra
3
Which is NOT a place you would find a subsistence economy?
developing countries
Native American culture in the 1600s
Earliest civilizations found by archaeologists
Toronto, Canada
4
Were subsistence economies enough for modern humans?
Yes, modern humans never found other ways.
No, since they provided wants but not needs.
Yes, modern humans kept them.
No, since they provided needs but not wants.
5
Which of the following is NOT a basic need?
food
video games
shelter
clothing
6
Which form of economic system is the oldest and simplest?
Command
Mixed
Market
Subsistence
7
In a true market economy, the government would play ______role.
a minor
a varying
a significant
no
8
All of these are examples of scarcity EXCEPT....
water in the desert
diamonds in the U.S.
doctors in the countryside
students in schools
9
All would be found in a subsistence economy EXCEPT:
gathering
hunting
simple farming
industrial farming
10
Subsistence economies where non-monetary.
True because they did not use money.
Neither true nor false.
True because they used money.
False because they did not use money.
11
__________ is the state of being in short supply.
Surplus
Neutral
Maximum Capacity
Scarcity
12
To ________ means to divide up in a way that makes sense.
subsidize
give
allocate
tax
13
Materials resources are called goods. What are human resources called?
technology
devices
services
stocks
14
Which is NOT an advantage to keeping a subsistence economy?
more advanced medical technology
better eye health from less screen time
less technology related stress
less industrial pollution
15
An economic system is the _______ & _______ of goods in a society.
production & demolition
goods & services
demand & supply
production & exchange

Intro to Economic Systems Flashcards | StudBud