stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
What is Economics? Flashcards | StudBud
Explore
/
What is Economics?
What is Economics?
14 terms
·
StudBud Administration
·
415 plays
A review for third grade economics.
Flashcards
14 cards
F
Practice quiz
P
Host live
L
Questions
14
Answers
1
Something you buy and consume.
service
need
good
want
2
A tax that is required when you buy something is a(n) _______ tax.
sales
property
income
3
A school janitor is an example of a _______.
producer
consumer
4
A machine, tool, or building used to produce goods and services is a ______ resource.
natural
human
capital
5
Something you and your family must have in order to live safe, healthy lives is a ...
need
good
service
want
6
A boy eating a hot dog is an example of a ______.
consumer
producer
7
Something that you or your family spends money on and enjoys,
need
consumer
producer
want
8
A person who makes products or provides a service is a ________ resource.
natural
capital
human
9
A tax you pay on things such as your house, boat, or land is a(n) _______ tax.
property
income
sales
10
If the demand is high, then the price will
decrease because there are few consumers who want to buy it
increase because there is not enough to meet consumer demand
decrease because there is more than enough on the market
increase because there are lots of consumers willing to buy
11
If the supply is high, then the price will...
decrease because there are not enough customers
increase because he has so many
decrease because there is more than enough on the market
increase because he wants to make as much profit as possible
12
A tax that is taken right from your paycheck is a(n) _______ tax.
property
sales
income
13
Something that someone does for you.
need
good
want
service
14
Useful materials that come from the earth is a _______ resource.
human
natural
capital
