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Economics Review 3rd Grade Flashcards | StudBud
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Economics Review 3rd Grade
Economics Review 3rd Grade
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3rd Grade Economics Review
Flashcards
22 cards
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Practice quiz
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Questions
22
Answers
1
Which of these is a good?
Teacher
Taxi Driver
Shoes
Baby Sitter
2
taxes are monies collected by the government to pay for roads, schools, and buildings.
False
True
3
What is a budget?
a plan to save and spend your money
money that you owe
borrowing money to pay your bills
expenses
4
What is it called when there is not much left of a resource?
Abundance
Supply
Debt
Scarcity
5
Someone who makes goods is called what?
Maker
Gooder
Consumer
Producer
6
this helps our country make money or products.
taxes
goods
resources
services
7
After a while, everyone has bought the toy, so what will happen to the demand?
It will go down
It will be a resource
It will be needed.
It will be high
8
Which is a capital resource?
People lifting things
Machines
Iron
Milk
9
What is it called when you owe someone money?
debt
interest
economics
money
10
What does it mean when a product is really popular?
High Demand
Low Supply
High Supply
Low Demand
11
What is it called when you borrow money from someone?
expense
demand
a loan
supply
12
When a toy is popular, the supply goes _____.
around
up
down
ends
13
Things that we use that come from nature are what?
Capital Resources
Human Resources
Natural Resources
Profit
14
Someone who buys goods is called a what?
purchaser
producer
consumer
buyer
15
Which of these is a need?
video games
pet
water
cell phone
16
What is something that can be bought, sold, or made?
Goods
Allowance
Budget
Debt
17
There is a new baby Yoda toy in the store that is very popular. What will happen to the price?
all of the answers.
The supply will go up.
The demand will go up.
The price will go up.
18
Currency is only money in the US
False
True
19
What is a human resource?
crops
machines that build things
tools that fix things
workers on an assembly line
20
Which one of these is a service?
car
cell phone
ketchup
maid
21
Teachers, Taxi Drivers, Car Mechanics are all examples of what?
goods
profit
product
services
22
If my store is trying to make more money than your store, we are in a _________.
competition
supply and demand
economics
high demand
