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3rd Grade Georgia Economics Flashcards | StudBud
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3rd Grade Georgia Economics
3rd Grade Georgia Economics
30 terms
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StudBud Administration
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156 plays
3rd grade economics #3rdgradeeconomics #3rdgrade #economics #socialstudies
Flashcards
30 cards
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Practice quiz
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Questions
30
Answers
1
What is opportunity cost?
The opportunity to go shopping.
What you give up when you make a choice.
The cost of a good or service.
What you pay for with a credit card.
2
Things you would like to have are called...
things
needs
wants
likes
3
When you buy a Happy Meal at McDonalds, you are a ________.
need
good
producer
consumer
4
People who make goods or provide services are called...
demanders
producers
buyers
consumers
5
Government-provided goods and services are paid for with ____
credit cards
tax money
debit cards
rocks
6
The government uses tax money to pay for which two things?
clothing and furniture
schools and police
houses and pets
cars and food
7
Things you must have in order to survive are called...
survivals
wants
needs
likes
8
How much a good or service is wanted is called...
want
supply
demand
need
9
A boy running his own lemonade stand is an example of which productive resource?
capital resource
entrepreneurship
natural resource
human resource
10
Fruit is an example of which type of resource?
natural resource
entrepreneurship
human resource
capital resource
11
A teacher is an example of which type of resource?
human resource
entrepreneurship
capital resource
natural resource
12
A dentist office is an example of a...
supply
demand
service
consumer
13
How are the prices of goods and services determined?
goods and services
labor and demand
supply and demand
supply and resources
14
An example of a service you might find in your community would be...
a trampoline
a hair salon
an iPad
a tree
15
The person who supplies goods and services to consumers is called a ____.
demand
service
buyer
producer
16
The amount of a product (good or service) there is to be sold is called the...
supply
demand
production
amount
17
Something one person does for another is a...
consumer
good
service
producer
18
A baker buying a stove from an appliance store is an example of ______.
savings
import
interdependence
allocation
19
A pencil is an example of a...
consumer
good
service
export
20
Food is an example of a...
want
consumer
need
producer
21
When you exchange goods or services for something else, this is called _____.
borrowing
buying
selling
trade
22
A consumer is someone who...
makes a good.
exports goods.
buys or uses a good or service.
provides a service.
23
I can use $5 to buy candy or a toy. I choose the toy. What is my opportunity cost?
The toy.
The money.
I have no idea.
The candy.
24
The ability to take risks to start a new company or invent a new product is called ____
business
consumer
producer
entrepreneurship
25
A train is an example of which type of resource?
entrepreneurship
human resource
capital resource
natural resource
26
The idea that people are dependent on others for some of their needs is called __________.
interdependence
consumers
opportunity cost
trade
27
An example of a good that you use each day would be...
a taxi
a toothbrush
a hammer
a robot
28
A person who buys a product (good) or service is called a...
seller
consumer
shopper
advertiser
29
All of these are basic needs EXCEPT for...
water
pets
air
shelter
30
An iPad is an example of a...
consumer
service
need
want
