A want means you should

the desire for something you don't absolutely need.

allows government to provide services.

a wish or desire for goods & services.

A famous athlete or actor, who suggests products to buy,

provides celebrity endorsement.

the amount of product or service available for use

studbud

third grade ECONOMICS

26 termsStudBud Administration243 plays

review of vocabulary and basic concepts in economics third grade

Flashcards26 cardsFPractice quizPHost liveL

Questions 26

Answers

1
An economy consists of
products, jobs & resources
manufacturing
all of these
money
2
Consumers can believe everything advertisements say.
FALSE
NEVER
TRUE
ALWAYS
3
Holidays are opportunities to notice
supply & demand.
import & export.
happy consumers
products & resources.
4
Examples of items that remain rather consistent with supply/demand are candy canes.
paper towels & toilet paper.
video games.
gasoline, movies & video games.
5
You can earn interest from a
getting a loan.
magazine.
retail store.
a bank.
6
Consumers
eat too much food.
provide services.
only buy items on sale.
are people, who purchase goods and services.
7
To send product out of the US to another country is called
distribution
export
import
sales
8
Consumers between the ages of ________________ impact sales more than other groups.
55-90 years
0 - 3 years
19-39 years
10-24
9
Manufacturing
to make many of the same items.
means the president places an order.
men know facts.
means a product is designed
10
Producers
make items bought by consumers.
make pizzas on Fridays.
work at stores like Target.
make snowballs.
11
The person doing manicures and pedicures
provides a service.
likes being busy.
hates his/her work.
an import.
12
When you get a job...you are the ________ and your "boss" is the __________.
employee employer
worker owner
boss worker
employer employee
13
An assembly line
takes a long time to finish.
makes production easier.
puts one item together at a time.
always uses sunlight.
14
A want means you should
parents will say you may not have it.
the desire for something you don't absolutely need.
know it's neccessary for your survival.
immediately buy something.
15
Tax paid on items
is profit.
allows government to provide services.
goes to charity.
goes to hospitals.
16
Water, stones and gold are
are useful natural resources.
used to make bronze.
are rare.
human resurces.
17
An advertisement that says everybody needs this product is an example of
a tv ad.
a bandwagon ad.
a celebrity ad.
a broadcast ad.
18
Demand is
a crying child.
a wish or desire for goods & services.
telling people to give you something now.
pestering and nagging and begging for things.
19
When supply is low, the prices are
competitive.
the same.
low.
high.
20
A famous athlete or actor, who suggests products to buy,
pushes sales.
is famous forever.
provides celebrity endorsement.
is phony.
21
The main purpose of an advertisement is to
sell products or services.
make money.
provide quality information.
tell which product is best.
22
Human resources
are each of those.
are people.
usually get paid wages.
are used at school.
23
Only presidents and law makers contribute to the US economy.
TRUE
FALSE
24
In exchange for goods and services consumers
exchange money.
advertise products.
shop.
volunteer.
25
Supply is
what you have in the pantry
pencils, crayons, erasers & markers
air
the amount of product or service available for use
26
When two similiar businesses are in the same community, they
give samples.
are in competition.
complain about the other.
fight.

third grade ECONOMICS Flashcards | StudBud