2. Acquiring Goods and Services Using Barter and Money SOL 2.8 Review

3. What term is used to describe the exchange of goods and services without the use of money? A. Debt Debt B. SavingSaving C. Barter Barter D. CreditCredit

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5. Correct!

6. What term describes coins and paper bills used in the exchange for goods and services? A. CreditCredit B. MoneyMoney C. DebtDebt D. BarterBarter

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8. Correct!

9. Peggy and Bev want to go ice-skating. If they clean out the garage, their mother will accept their chores as payment for the ice-skating. What is this type of exchange called? A. MoneyMoney B. CreditCredit C. CoinsCoins D. BarterBarter

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11. Correct!

12. Mike used all of his coins in his piggy bank to buy a toy. What is this type of exchange called? A. MoneyMoney B. CreditCredit C. CoinsCoins D. BarterBarter

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14. Correct!

15. Not being able to meet all wants at the same time is known as __________. A. moneymoney B. scarcityscarcity C. barterbarter D. creditcredit

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17. Correct!

18. What term describes a person who uses goods and services? A. ScarcityScarcity B. Human ResourceHuman Resource C. ConsumerConsumer D. SavingsSavings

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20. Correct!!

21. What term describes a person who uses resources to make other goods and or provide services? A. CostCost B. BarterBarter C. ScarcityScarcity D. ProducerProducer

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23. Correct!!

24. A worker in a factory that builds chairs is called a _______________. A. consumerconsumer B. producerproducer C. bankerbanker D. farmerfarmer

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26. Correct!!

27. A person who shops at the clothing store is called a ____________. A. consumerconsumer B. natural resourcenatural resource C. capital resourcecapital resource D. producerproducer

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29. Correct!!

30. At recess, the class has three playground balls for 21 students. This is an example of ___________. A. barterbarter B. moneymoney C. scarcityscarcity D. resourceresource

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32. Correct!!

33. When a person visits the dentist for a check up, the dentist is ____________. A. producing a goodproducing a good B. providing a serviceproviding a service C. displaying scarcitydisplaying scarcity D. using barterusing barter

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35. Correct!!

36. The students made popcorn to sell at the fair. The popcorn is a _________. A. serviceservice B. scarcityscarcity C. barterbarter D. goodgood

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38. Correct!!