Grade 5 NY Unit 3 Lesson 1 Quiz

State: NY
Grade: 5

1. What encourages companies to improve their wealth?

a. stocks
b. profit motive
c. voluntary exchange
d. biotechnology

2. What happens to the price of oil when the demand is low and the supply is high?

a. The price goes down.
b. The price goes up.
c. The price does not change.
d. The price goes up then down.

3. Voluntary exchange _________ trade.

a. lets us make decisions about
b. tells us with whom
c. discourages
d. is government-run

4. Which Northeastern city is an important center for biotechnology research?

a. Washington, D.C.
b. Boston
c. Philadelphia
d. New York City

5. __________ has the largest economy in the United States?

a. Texas
b. New York
c. California
d. Florida