Which scenario represents scarcity?

Running out of glue sticks in class

When you export you are...

Shipping or sending out goods to other places

How much of something people want

An example that does NOT represent importing would be..

Selling peaches to another state

Which scenario does not show interdependence?

A farmer who is able to live off of only goods from his farm

studbud

Economics Terms

15 termsStudBud Administration709 plays

This Quiz assess students on 3rd grade economics terms. #3rdgrade #economics #thirdgrade

Flashcards15 cardsFPractice quizPHost liveL

Questions 15

Answers

1
What is a good?
A person who buys a good or a service.
Something people do for money
Someone who makes a good or service
Anything that you buy that you can hold or touch
2
Which of the following is NOT a want?
Gummy bears
Television
New shoes
Medicine
3
Which of the following is NOT an example of a consumer?
Selling lemonade
Watching television
Buying groceries
Ordering pizza
4
Which of the following is a service?
Clothes
Dentist
Milk
Money
5
Supply is...
How much of something people want
The cost of a service
How much of something is available
The price of a good
6
Trade is...
Exchanging a good or service for another
Donating to a charity
Giving a birthday present
Giving away items
7
Which of the following is an example of a producer?
Eating Chick-fil-A
Going to Disney World
Playing video games
Honey bees
8
Which scenario represents scarcity?
Making too many cookies for a bake sale
Christmas decorations going on sale at Walmart
More Halloween candy than Trick-or-Treaters
Running out of glue sticks in class
9
When you export you are...
Buying a video game at the local Walmart
Shipping or sending out goods to other places
Consuming a good or service
Buying items from another state
10
Which is not an example of a need?
Toys
Shelter
Food
Water
11
Which is NOT a capital resource?
Money
Video games
Machines
A Good that is used to make other goods or provide services
12
Which of the following is a natural resource?
Money
Candy
Plastic
Lumber
13
Demand is...
How much you want to sell of something
How much you have of something
The amount you have
How much of something people want
14
An example that does NOT represent importing would be..
Buying silk from another country
A grocery store purchasing potatoes from Idaho
Ordering oranges from Florida
Selling peaches to another state
15
Which scenario does not show interdependence?
Visiting the doctor when your are sick
Buying seeds to grow your own garden
A farmer who is able to live off of only goods from his farm
Going to the grocery store for food to make dinner

Economics Terms Flashcards | StudBud