Grade 4 Social Studies Practice Test: Natural Resources, Supply and Demand
- Resources, Supply and Demand
- 10 questions
- 12 minutes
This test covers Grade 4 economics: the resources used to make goods, how supply and demand affect prices, and why people and places trade. Tip: when something becomes scarce, its price usually goes up.
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Question 1
Which of these is a natural resource?
Correct answer: D
Natural resources come from nature, such as trees, water, soil and oil. A hammer and a truck are capital resources, and a worker is a human resource.
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Question 2
Which of these is a human resource?
Correct answer: D
Human resources are people and the work and skills they bring. Lumber and river water are natural resources, and a saw is a capital resource.
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Question 3
A bakery uses an oven to bake bread. What kind of resource is the oven?
Correct answer: C
Capital resources are tools, machines and buildings used to make goods. The oven is made by people, so it is not a natural resource.
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Question 4
Which of these resources is nonrenewable, meaning it cannot be replaced in a person's lifetime?
Correct answer: A
Coal took millions of years to form, so once it is used up it is gone. Wind and sunlight do not run out, and new trees can be planted.
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Question 5
Rosa uses her savings to open a small bike repair shop. She takes the risk that the shop might not make money. Rosa is an
Correct answer: B
An entrepreneur starts a new business and takes a risk to earn a profit. An employee works for someone else's business.
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Question 6
On a very hot day, many more people want to buy lemonade at the park. What happens to the demand for lemonade?
Correct answer: B
Demand is how much of something people want to buy. Hot weather makes more people want a cold drink, so demand rises.
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Question 7
A storm destroys many orange trees in Florida, so there are fewer oranges for sale. What will most likely happen to the price of oranges?
Correct answer: C
When supply drops but people still want oranges, buyers compete for fewer oranges and the price usually rises.
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Question 8
Goods that are brought into the United States from other countries are called
Correct answer: A
Imports come in from other countries. Exports are goods a country sells and sends out to other countries.
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Question 9
Jay's lemonade stand took in $30. He spent $12 on lemons, sugar and cups.
How much profit did Jay make?
Correct answer: C
Profit is the money left after paying costs: $30 - $12 = $18. Adding the numbers to get $42 is a common mistake.
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Question 10
Why do states trade goods with each other?
Correct answer: B
States have different climates and resources. Idaho grows many potatoes, and Florida grows many oranges, so trading lets people get goods from other places.
Questions you leave blank are not counted as wrong.
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