Monthly Teaching Theme #6 Student Assessment (Secondary)

What Do I Do Best?

Keystone Principle #6 – Do what you do best, trade for the rest

Click here for a printable PDF version of this Monthly Teaching Theme Assessment

Name _________________________________ School________________________________

Date _________________ Grade_________________________________

I. Vocabulary – Match each word with its definition.

____ 1. Command economy
____ 2. Market economy
____ 3. Productive Resources
____ 4. Traditional economy

A. An economy that allocates resources through the decentralized decisions (supply and demand) of many businesses and households as they interact in markets for goods and services.

B. An economic system characterized by the public (government) ownership of productive resources and centralized economic planning.

C. An economic system characterized by decisions made by previous
generations being used as the guiding force in the organization of current economic activities.

D. That set of resources utilized in the process of production: land, labor, capital, technology and entrepreneurial abilities.

II. Understanding Concepts –

5. Jose’s father expects him to work in the same factory as he does and his father did before him.

Circle which economy this scenario most represents:

  • Command
  • Market
  • Traditional

6. Kristina must sew clothes for her work because that is the only job the government had available for her.
Circle which economy this scenario most represents:

  • Command
  • Market
  • Traditional

7. Paul was highly motivated to make a lot of money so they were willing to work
long hours.
Circle which economy this scenario most represents:

  • Command
  • Market
  • Traditional

8. Kim values cooperation and obedience to the government over competition and self-gain.
Circle which economy this scenario most represents:

  • Command
  • Market
  • Traditional

9. DaQuannah makes weaves out of human hair instead of horse hair because that is the her mother taught her (even though human hair is more expensive than horse hair).
Circle which economy this scenario most represents:

  • Command
  • Market
  • Traditional

III. Fill in the Blank Circular Flow –
Matching: Match the correct term with the blank.

10. ______ Factor Market

11. ______ Product Market

12. ______ Business Firms

13. ______ Households

IV. Relevance

14. Where do you see yourself using the information you learned about economic systems, resources, and producers and consumers?

15. Please rate the impact that studying about choices & consequences has had on
your life. Circle the number below:

0 – No Impact

1 – A little impact

2 – Moderate amount of impact – I might consider it

3 – Quite a bit of impact – I see how it fits and appreciated learning about it

4 – Great Impact – I understand how important it is to my life and will use the information I learned