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Third Grade Economy
A:B: ServicesProducers 1. What is a name for things people make or grow? C:D: ConsumersGoods
GOOD JOB! D) Goods
A:B: ServicesConsumers 2. What is the name of people or businesses that do something to help people? C:D: ProducersGoods
GOOD JOB! A) Services
A:B: GovernmentEconomy 3. What is the term for the way a country produces and uses its money? C:D: GoodsServices
GOOD JOB! B) Economy
A:B: ConsumerProducer 4. What is the name of someone who grows or makes something to sell to other people or business? C:D: GoodsServices
GOOD JOB! B) Producer
A:B: GoodsProducers 5. What is the name of the person or people who buy goods and services? C:D: ConsumersServices
GOOD JOB! C) Consumers
A:B: SupplyDemand 6. What is the term for the amount of goods available to sell? C:D: ProducerConsumer
GOOD JOB! A) Supply
A:B: Human Resources 7. What is the term for the workers at a workplace Example: teachers, doctors, and sales clerks C:D: ProducerDemand 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: TaxOpportunity Cost 9. What is the name for the shortage of a good or service in the marketplace? C:D: EconomyScarcity
GOOD JOB! D) Scarcity
A:B: ExpensesBudget 10. This is a plan that helps you decide how to use your money. C:D: IncomeConsumers
GOOD JOB! B) Budget
A:B: IncomeBudget 11. What is the name for the money you earn for doing a job? C:D: ExpensesTax
GOOD JOB! A) Income
A:B: BudgetIncome 12. This is the name for things that money is spent on. C:D: ExpensesConsumers
GOOD JOB! C) Expenses
A:B: TeacherBaker C:D: DoctorPolice Officer 13. Look at the choices below. Which person provides goods?
GOOD JOB! B) baker
A:B: treeschairs 14. Look at the choices below. Which is a natural resource? C:D: truckstelevisions
GOOD JOB! A) trees
That is incorrect. Please try again.
A:B: Human ResourcesCapital 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: ExpenseIncome
Answer: B) Capital Resources
Great Job!!!! Great Job!!!! Thanks for playing! Thanks for playing!
Economics Review Mrs. Slaggies Third Grade. A:B: ServicesProducers 1. What is a name for things people make or grow? C:D: ConsumersGoods.
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Teacher Name Class / Subject Date A:B: Write an answer here #1 Write your question Here C:D: Write an answer here.
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Economics Review Mrs. Slaggie’s GEO. A:B: ServicesProducers 1. What is a name for things people make or grow? C:D: ConsumersGoods.
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