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4th grade economics Flashcards | StudBud
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4th grade economics
4th grade economics
20 terms
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StudBud Administration
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Economics and factors of production
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
Which one of these is a service?
popcorn bags
teaching a class
eating a cake
pencil erasers
2
A car, a CD, and a bike are all:
natural resources
services
consumers
goods
3
A carpenter's hammer is an example of:
land
labor
entrepreneurship
capital
4
Scarcity occurs because:
someone is frightened
there are too many goods in the store
there are not enough products for everyone
no one will buy all the things they want
5
There are 4 factors of production: entrepreneurship, capital, land, and ______________.
producers
investments
labor
consumers
6
What natural resource is used to make glass?
clay
coal
limestone
sand
7
What natural resource is used to make a pop can?
rubber
cement
aluminum
flint
8
The person who puts erasers on pencils is an example of:
entrepreneur
land
labor
capital
9
The yellow paint on a pencil is an example of:
land
capital
entrepreneur
labor
10
The wood in a pencil is an example of:
capital
labor
entrepreneur
land
11
John opened his own bakery in town. Which factor of production does John represent?
entrepreneur
capital
land
labor
12
Which is an example of an entrepreneur?
a person working in a factory that makes new cars
a teacher in his classroom at a public school
an owner of a dry cleaning store who buys a new machine
a typist in an office who types letters for her boss
13
John needs 3 bakers and 2 clerks to run his store. Which factor of production are the people?
capital
labor
entrepreneur
land
14
The cakes that the bakery sells are examples of:
entrepreneur
services
goods
labor
15
What can be made from clay?
cars
dishwasher
a desk
a drinking mug
16
A bus driver, a teacher, and a police officer are all examples of people whose job involves:
running a business
selling an item
providing a service
making an investment
17
Which is
NOT
an example of labor?
a policeman
a forest
a lumberjack
a cashier
18
Economics is the study of:
landforms
the customs and traditions of a society
the religious beliefs of a group of people
how people use limited sources to get unlimited wants
19
The person who owns and runs the pencil factory is an example of:
labor
entrepreneur
land
capital
20
Which of these is a good?
running a marathon
sharpening a pencil
baking pies
desktop computer
