Economics Power Quiz

Ms. Garrett

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Answer the questions below and then click "submit" to send your answers.

  1. Items manufactured or produced for sale are called:

    2. Your answer:
    credits
    goods
    debts
    consumers

  2. A person who buys goods or services is called a:

    3. Your answer:
    producer
    banker
    saver
    consumer

  3. A medium of exchange; also called currency:

    4. Your answer:
    barter
    debt
    money
    credit

  4. Exchanging goods and services without the use of money is called:

    5. Your answer:
    debt
    savings
    barter
    trade

  5. Buying a good or service now and paying for it later is called:

    6. Your answer:
    credit
    savings
    income
    barter

  6. A good, service, or money owed to someone else is called:

    7. Your answer:
    barter
    debt
    credit
    savings

  7. Money put away to spend at a later time is called:

    8. Your answer:
    debt
    income
    credit
    savings

  8. Something grown to sell for money rather than for use by the growers is called a:

    9. Your answer:
    income
    debt
    cash crop
    barter

  9. What was often used instead of paper money and coins during the colonial period in Virginia?

    10. Your answer:
    tobacco
    silver
    gold
    rice

  10. How many banks did colonial Virginia have?

    11. Your answer:
    none
    one
    five
    ten

  11. An example of a cash crop is:

    12. Your answer:
    gold
    tobacco
    silver
    wampum

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