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Economics 3rd Grade Flashcards | StudBud
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Economics 3rd Grade
Incentive is...
The amount of a good or service that a consumer will buy.
Economics 3rd Grade
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StudBud Administration
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Supply & Demand
Flashcards
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Questions
15
Answers
1
The amount of a good or service that a consumer will buy.
demand
economy
scarcity
supply
2
Incentive is...
supply and demand
when there is not enough of something
something that helps a person make a choice
expensive prices
3
What are items that people can buy in an economy?
services
profits
markets
goods
4
A person who is willing to buy a good or a service is a?
service
consumer
supply
demand
5
When there is not enough of something to have or buy it is called.
scarcity
demand
supply
economy
6
What happens when demand is high and supply is low?
Prices go down
Prices stay the same
Prices go up
People stop buying
7
What is the amount of money you make from your business after you pay your costs?
market
profit
economy
supply
8
What is it called when buyers and sellers come together for business?
a market
goods
services
supply and demand
9
The demand for sunscreen in December is?
High because no one needs it
High because it is expensive
Prices go up
Low because no one needs it
10
Which is an example of a service?
all of them are services
hair cut
dog walker
car wash
11
What is a system called that allows goods and services to be bought and sold?
scarcity
supply and demand
an economy
a market
12
How do people get the things they want?
trade
borrow
supply and demand
purchase with money
13
What is a task you pay someone to do in our economy?
supply
service
market
good
14
If a new popular toy hits the stores and there is high demand. What will happen to the price?
The price will decrease
The price will stay the same
The price will increase
The toy will go on sale
15
Which describes the demand for pumpkins in the fall?
demand goes up in the fall
demand goes down in the fall
demand stays the same all year
demand goes up in the winter
