Third Grade Economy
A: B:Services Producers
1. What is a name for things people make or grow?
C: D:Consumers Goods
GOOD JOB!
D) Goods
A: B:Services Consumers
2. What is the name of people or businesses that do something to help people?
C: D:Producers Goods
GOOD JOB! A) Services
A: B:Government Economy
3. What is the term for the way a country produces and uses its money?
C: D:Goods Services
GOOD JOB! B) Economy
A: B:Consumer Producer
4. What is the name of someone who grows or makes something to sell to other people or business?
C: D:Goods Services
GOOD JOB!
B) Producer
A: B:Goods Producers
5. What is the name of the person or people who buy goods and services?
C: D:Consumers Services
GOOD JOB! C) Consumers
A: B:Supply Demand
6. What is the term for the amount of goods available to sell?
C: D:Producer Consumer
GOOD JOB! A) Supply
A:
B: Human Resources
7. What is the term for the workers at a workplaceExample: teachers, doctors, and sales clerks
C: D:Producer Demand
Capital Resources
GOOD JOB! B) Human Resources
A: B:The price will stay the same.
The price will go up.
8. What happens when the supply of an object is greater than the demand?
(Too much stuff left over and no one wants it.)
C: D:The price will go down.
It means they sold out of that object.
GOOD JOB!
C) The price will go down.
A: B:Tax Opportunity Cost
9. What is the name for the shortage of a good or service in the marketplace?
C: D:Economy Scarcity
GOOD JOB!
D) Scarcity
A: B:Expenses Budget
10. This is a plan that helps you decide how to use your money.
C: D:Income Consumers
GOOD JOB!
B) Budget
A: B:Income Budget
11. What is the name for the money you earn for doing a job?
C: D:Expenses Tax
GOOD JOB! A) Income
A: B:Budget Income
12. This is the name for things that money is spent on.
C: D:Expenses Consumers
GOOD JOB! C) Expenses
A: B:Teacher Baker
C: D:Doctor Police Officer
13. Look at the choices below.
Which person provides goods?
GOOD JOB!
B) baker
A: B:trees chairs
14. Look at the choices below.
Which is a natural resource?
C: D:trucks televisions
GOOD JOB!
A) trees
That is incorrect. Please try
again.
A: B:Human Resources Capital Resources
15. What is the term for the tools, equipment, and buildings we use to help produce things.Examples: trucks, computers, cash registers
C: D:Expense Income
Answer:
B) Capital Resources
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