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Economics Flashcards | StudBud

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Economics

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Third Grade Economics Quiz (Supply and Demand)

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Questions 9

Answers

1
What is a "service"?
something someone makes you do
food
something that is provided for you
games
2
A need is _________________.
something you have to have
something you don't have to have
3
What is a "want"?
something you don't need in life
something you need in life
4
What is a "good"?
tasty food
good behavior
something you buy or sell
5
Supply is ____________.
how much people want an item
how much of an item someone has or buys
money earned
6
Demand is ______________.
people telling you to do something
how much people want an item
7
Profit is _________________.
how much of an item someone has
how much people want an item
money earned
8
Which of the following is a "need"?
clothes
flowers
candy
cars
9
Which of the following is a "want"?
shelter
water
food
toys