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Duplicate of 4th Grade Economics Flashcards | StudBud
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Duplicate of 4th Grade Economics
Duplicate of 4th Grade Economics
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1
Handle's Ice Cream
hires
someone to restock ice cream. This is an example of:
land
capital goods
human resource
entrepreneurship
2
Max decides to buy new shoes after getting his paycheck. What he bought is an example of:
a want
a mistake
a need
a profit
3
Carl had an idea for a car repair shop and opened up his own business. This is an example of:
land
entrepreneurship
labor
capital goods
4
What productive resource would be a good title for the following list:
can opener, spoon, bowl
entrepreneurship
land
labor
capital goods
5
A steel industry needs iron ore and water to make their product. These are examples of:
labor
entrepreneurship
capital goods
natural resources
6
Which statement describes an entrepreneur?
They rarely take risks
They produce goods or services
They always make a profit
They do not use productive resources
7
A business hopes to make this after all expenses are paid.
producer
natural resources
profit
consumer
8
The ability to understand how money works and to know about business and finance is called...
budget
financial literacy
income
productive resources
9
Keeping track of what you spend and make during a set period of time is called....
a need
a profit
a business
a budget
10
Why are entrepreneurs important?
They make more profits than any other business
They reach higher levels of education
They spend more money on their employees
They take risks to create products
11
This is the type of economy the United States has:
dictatorship
free enterprise system
democracy
stock market
12
What is made by a business after expenses are taken out?
entrepreneur
profit
expenses
capital goods
13
Capital goods, natural resources, and human resources are included in the term
Entrepreneur
Natural Resources
Producers
Productive Resources