What is opportunity cost?

The good or service you are give up to get what you want

Why do prices go down when consumers start saving their money?

consumers do not want to spend their money

The money a person makes for a product or service

The study of people and their choices to spend their money.

Money for the government to pay for public services or goods

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Economy

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4th grade inquiry about Economics.

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Questions 14

Answers

1
What is opportunity cost?
Spending money on what you want
The good or service you are give up to get what you want
The choice to make to spend your money
The price tag
2
If the supply goes up, and you have a lot of a product, the demand will...
do cartwheels
stay the same
go up
go down
3
What is demand?
How much you WANT a product
How much money you spend
How much money you have
How much product you have
4
A consumer is...
someone who buys a product
someone who makes a product
5
What is scarcity?
Getting what you want
Moving cities
Being scared
Limited product or resources
6
If the demand for a product is high, and everyone wants a product, the supply will...
do backflips
go up
stay the same
go down
7
A free enterprise system means...
any one can start a business
only citizens can start a business
no one can start a business
only adults can start a business
8
A producer is...
someone who makes a product
someone who buys a product
9
Why do prices go down when consumers start saving their money?
manufacturers are producing more
people want to spend more money
consumers do not want to spend their money
what is economy?
10
What is supply?
How much product you have
How much money you spend
How much product you want
How much money you have
11
What is income?
The money a person makes for a product or service
Coming inside
A tax
Moving in from outside
12
Examples of taxes are
public safety
national defense
All of the above
education
13
What is economics?
The study of the stock market
The study of money
The study of people and their choices to spend their money.
The study of spending
14
What are taxes?
None of the above
Money we spend
Money for the government to pay for public services or goods
Money that is wasted

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