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Social Studies - Economics Flashcards | StudBud

Explore/Social Studies - Economics

Which is a good?

What does donate mean?

Social Studies - Economics

14 terms·StudBud Administration·331 plays

A third grade economics review of key terms and concepts.

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Questions 14

Answers

1
What does donate mean?
Using money to buy a good or service
Giving something away for a good cause
Estimating how much money you can spend on different items
Making a good to sell for money
2
Which is a good?
Xbox
Teacher
Firefighter
Doctor
3
What does a producer make to sell?
Goods & Services
Scarcity
Budgets
4
What is a want?
something you must have to live
not having enough of something
something you would like to have but can live without
something you get in exchange for work
5
When supply is high price is __________
Low
High
6
When demand is high supply is ___________
Low
High
7
What does it mean to save money?
buy lots of candy
put money away for future use
pay bills
give money away for a good cause
8
Which is a need?
Xbox
Hair Bow
Water
iPhone
9
What is a budget?
A product made to make money
Something you cannot live without
When you get something in exchange for work or services
An estimate of how much money you have to spend on things
10
Sam Walton, Henry Ford, and Milton Hershey were ________
3rd Graders
Entrepreneurs
Scientists
Doctors
11
What does it mean if something is scarce?
There is too much of something
There is not enough of something
12
When you buy a new game you are a _______
Producer
Consumer
13
Which does NOT provide a service?
Librarian
Teacher
Firefighter
Video Games
14
What can you spend money on?
Services
All of the above
Bills
Goods