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Chapter 14

Self Test

Self Test

This activity contains 12 questions.

	In 1999, the National Association of Economic Educators (NAEE) tested adults and high school seniors on fundamental economic concepts. Half the adults tested failed the exam. What percentage of high-school students failed?   0% 33% 50% 66% 100%

	Which of the following could be included when defining the term economics?   Economic is about how goods and services get produced and distributed. Economics as a body of knowledge includes the concepts, generalizations, and theories developed by people to try to extend their scarce natural, human, and capital resources so that they can fulfill their basic needs and as many of their wants as possible. Economics is both a set of knowledge and a way of thinking. Economics is based on the realization that people want more than the resources available can provide. Economics is the examination of ways to make the system of production and distribution work better through the formation of governmental and business policies. All of the above.

	In 1997, the National Standards for Economics was passed by Congress and is now used as the basis for achievement tests administered in each of the fifty states.    True  False

	Which of the following help economists organize information?   Tables Charts Graphs None of the above All of the above

	Microeconomics is the study of individual households, companies, and markets and of how resources and prices combine to distribute wealth and products.    True  False

	Macroeconomics is the study of the big picture, of the economy as a whole. Macroeconomics provides an overview of the conditions in an entire nation.    True  False

	Which of the following is not an important term to discuss when teaching elementary and middle grades students effective economic decision-making skills?   Gross National Product (GNP) Opportunity cost Cost--benefit analysis Grobalization Scarcity

	During economics simulations and classroom activities, teachers should do all of the following except _____?   Help the student by showing the correct method or answer Ask problem questions designed to stimulate thinking from a particular view Suggest possible alternatives or consequences if students fail to mention them Allowing a student an opportunity to review a decision after several days has passed

	With systematic instruction, even kindergarten students can learn economic concepts and economic decision making---weighing alternatives and what to give up against the benefits received.    True  False

	Which of the following would not be the most effective way to increase student achievement when teaching economics?   Assigning a selection from the textbook and having the students use dictionaries to define various vocabulary terms Expressing more enthusiasm and interest in the content of the lesson Including more of the relevant knowledge generalizations and more of the related concept labels Giving more concept definitions and more positive concept examples and reviewed the main ideas of the lesson Using accurate economic conceptual and factual knowledge relevant to the objectives of the lesson

	Which of the following is a good resource for elementary and middle grades educators teaching economics content?   Local citizens who are knowledgeable about specific economic issues impacting local government and businesses The National Council on Economic Education (NCEE) web site, as well as various state councils Printed materials created by local, state, and national government agencies and economic institutions such as trade organizations, private corporations, insurance groups, and financial organizations Field trips to local businesses that include entrance into areas from which the general public is normally excluded are very enlightening to young people who know little about the specifics of many jobs and careers Locally conducted surveys and written questionnaires sent out to gather information All of the above.

	Although a variety of methods are successful in teaching economics, the best approaches emphasize economic concepts and rational economic decision making.    True  False

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